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Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Feb. 27, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	PARK OHIO HOLDINGS CORP
Entity Central Index Key	0000076282
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 509,494,000dei_EntityPublicFloat
Entity Common Stock, Shares Outstanding		12,500,129dei_EntityCommonStockSharesOutstanding

Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 58.0	$ 55.2
Accounts receivable, less allowances for doubtful accounts of $4.1 million at December 31, 2014 and $3.7 million at December 31, 2013	208.0us-gaap_AccountsReceivableNetCurrent	165.7us-gaap_AccountsReceivableNetCurrent
Inventories, net	238.4us-gaap_InventoryNet	221.4us-gaap_InventoryNet
Deferred tax assets	28.9us-gaap_DeferredTaxAssetsNetCurrent	25.2us-gaap_DeferredTaxAssetsNetCurrent
Unbilled contract revenue	26.8us-gaap_UnbilledContractsReceivable	8.7us-gaap_UnbilledContractsReceivable
Prepaid and other current assets	22.1us-gaap_OtherAssetsCurrent	20.1us-gaap_OtherAssetsCurrent
Total current assets	582.2us-gaap_AssetsCurrent	496.3us-gaap_AssetsCurrent
Net property, plant and equipment	141.1us-gaap_PropertyPlantAndEquipmentNet	115.4us-gaap_PropertyPlantAndEquipmentNet
Goodwill	89.5us-gaap_Goodwill	60.4us-gaap_Goodwill
Intangible assets, net	88.1	66.2
Other long-term assets	73.3us-gaap_OtherAssetsNoncurrent	80.4us-gaap_OtherAssetsNoncurrent
Total assets	974.2us-gaap_Assets	818.7us-gaap_Assets
Current liabilities:
Trade accounts payable	160.3us-gaap_AccountsPayableTradeCurrent	112.0us-gaap_AccountsPayableTradeCurrent
Accrued expenses and other	103.6us-gaap_AccruedLiabilitiesCurrent	86.0us-gaap_AccruedLiabilitiesCurrent
Total current liabilities	263.9us-gaap_LiabilitiesCurrent	198.0us-gaap_LiabilitiesCurrent
Long-term liabilities, less current portion:
Debt	434.4us-gaap_LongTermDebtNoncurrent	379.2us-gaap_LongTermDebtNoncurrent
Deferred tax liabilities	43.9	45.3
Other postretirement benefits and other long-term liabilities	40.1	32.2
Total long-term liabilities	518.4us-gaap_LiabilitiesNoncurrent	456.7us-gaap_LiabilitiesNoncurrent
Capital stock, par value $1 a share
Serial preferred stock: Authorized -- 632,470 shares: Issued and outstanding -- none	0us-gaap_PreferredStockValue	0us-gaap_PreferredStockValue
Common stock: Authorized - 40,000,000 shares; Issued - 14,513,821 shares in 2014 and 14,364,239 in 2013	14.5us-gaap_CommonStockValue	14.4us-gaap_CommonStockValue
Additional paid-in capital	89.8	82.4
Retained earnings	126.5	85.6
Treasury stock, at cost, 2,014,692 shares in 2014 and 1,934,959 shares in 2013	(31.2)us-gaap_TreasuryStockValue	(26.8)us-gaap_TreasuryStockValue
Accumulated other comprehensive (loss) income	(14.0)	3.4
Total Park-Ohio Holdings Corp. and Subsidiaries shareholders' equity	185.6us-gaap_StockholdersEquity	159.0us-gaap_StockholdersEquity
Noncontrolling interest	6.3us-gaap_MinorityInterest	5.0us-gaap_MinorityInterest
Total equity	191.9	164.0
Total liabilities and shareholders' equity	$ 974.2	$ 818.7

Consolidated Balance Sheets (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4.1	$ 3.7
Capital stock, par value (in dollars per share)	$ 1	$ 1
Serial preferred stock, shares authorized (in shares)	632,470us-gaap_PreferredStockSharesAuthorized	632,470us-gaap_PreferredStockSharesAuthorized
Serial preferred stock, shares issued (in shares)	0us-gaap_PreferredStockSharesIssued	0us-gaap_PreferredStockSharesIssued
Serial preferred stock, shares outstanding (in shares)	0us-gaap_PreferredStockSharesOutstanding	0us-gaap_PreferredStockSharesOutstanding
Common stock, shares authorized (in shares)	40,000,000us-gaap_CommonStockSharesAuthorized	40,000,000us-gaap_CommonStockSharesAuthorized
Common stock, shares issued (in shares)	14,513,821us-gaap_CommonStockSharesIssued	14,364,239us-gaap_CommonStockSharesIssued
Treasury stock, shares (in shares)	2,014,692us-gaap_TreasuryStockShares	1,934,959us-gaap_TreasuryStockShares

Consolidated Statements of Income (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Net sales	$ 1,378.7us-gaap_SalesRevenueNet	$ 1,203.2us-gaap_SalesRevenueNet	$ 1,128.2us-gaap_SalesRevenueNet
Cost of sales	1,144.2us-gaap_CostOfGoodsAndServicesSold	992.2us-gaap_CostOfGoodsAndServicesSold	920.9us-gaap_CostOfGoodsAndServicesSold
Gross profit	234.5us-gaap_GrossProfit	211.0us-gaap_GrossProfit	207.3us-gaap_GrossProfit
Selling, general and administrative expenses	136.6	120.2	113.8
Litigation judgment and settlement costs	0us-gaap_LitigationSettlementExpense	5.2us-gaap_LitigationSettlementExpense	13.0us-gaap_LitigationSettlementExpense
Operating income	97.9us-gaap_OperatingIncomeLoss	85.6us-gaap_OperatingIncomeLoss	80.5us-gaap_OperatingIncomeLoss
Gain on acquisition of business	0	(0.6)	0
Interest expense	26.1us-gaap_InterestExpense	25.9us-gaap_InterestExpense	26.0us-gaap_InterestExpense
Income from continuing operations before income taxes	71.8	60.3	54.5
Income tax expense	24.9us-gaap_IncomeTaxExpenseBenefit	19.4us-gaap_IncomeTaxExpenseBenefit	20.3us-gaap_IncomeTaxExpenseBenefit
Net income from continuing operations	46.9	40.9	34.2
Income (loss) from discontinued operations, net of taxes	0	3.0	(2.4)
Net income	46.9us-gaap_ProfitLoss	43.9us-gaap_ProfitLoss	31.8us-gaap_ProfitLoss
Net income attributable to noncontrolling interest	(1.3)	(0.5)	0
Net income attributable to ParkOhio common shareholders	$ 45.6us-gaap_NetIncomeLoss	$ 43.4us-gaap_NetIncomeLoss	$ 31.8us-gaap_NetIncomeLoss
Earnings (loss) per common share attributable to ParkOhio common shareholders - Basic:
Continuing operations (in dollars per share)	$ 3.77	$ 3.40	$ 2.87
Discontinued operations (in dollars per share)	$ 0.00	$ 0.25	$ (0.20)
Total (in dollars per share)	$ 3.77us-gaap_EarningsPerShareBasic	$ 3.65us-gaap_EarningsPerShareBasic	$ 2.67us-gaap_EarningsPerShareBasic
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Continuing operations (in dollars per share)	$ 3.68	$ 3.31	$ 2.82
Discontinued operations (in dollars per share)	$ 0.00	$ 0.25	$ (0.20)
Total (in dollars per share)	$ 3.68us-gaap_EarningsPerShareDiluted	$ 3.56us-gaap_EarningsPerShareDiluted	$ 2.62us-gaap_EarningsPerShareDiluted
Weighted-average shares used to compute earnings per share:
Basic (in shares)	12,097,018	11,936,772	11,920,593
Diluted (in shares)	12,376,076	12,232,165	12,116,429
Dividend per common share (in dollars per share)	$ 0.375	$ 0	$ 0

Consolidated Statements of Comprehensive Income (Loss) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income	$ 46.9us-gaap_ProfitLoss	$ 43.9us-gaap_ProfitLoss	$ 31.8us-gaap_ProfitLoss
Other comprehensive income (loss):
Foreign currency translation (loss) gain	(7.9)	(2.6)	0.6
Pension and postretirement benefit adjustments, net of tax	(9.5)	12.8	1.0
Total other comprehensive (loss) income	(17.4)	10.2	1.6
Total comprehensive income, net of tax	29.5	54.1	33.4
Comprehensive income attributable to noncontrolling interest	(1.3)	(0.5)	0
Comprehensive income attributable to ParkOhio common shareholders	$ 28.2us-gaap_ComprehensiveIncomeNetOfTax	$ 53.6us-gaap_ComprehensiveIncomeNetOfTax	$ 33.4us-gaap_ComprehensiveIncomeNetOfTax

Consolidated Statement of Shareholders' Equity (USD $) In Millions, except Share data, unless otherwise specified	Total	Common Stock	Additional Paid-In Capital	Retained (Deficit) Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interest
Beginning balance at Dec. 31, 2011	$ 65.5	$ 13.8	$ 70.3	$ 10.4	$ (20.6)	$ (8.4)	$ 0
Beginning balance (in shares) at Dec. 31, 2011		13,813,774
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	33.4			31.8		1.6
Share-based compensation	2.6		2.6
Restricted stock awards and options exercised (in shares)		258,000
Restricted stock awards and options exercised	0	0.3	(0.3)
Common stock award (in shares)		31,606
Common stock award	0.6	0	0.6
Restricted stock cancelled (in shares)		(32,375)
Restricted stock cancelled	0	0	0
Purchase of treasury stock	(4.0)				(4.0)
Exercise of stock options (in shares)		38,250
Exercise of stock options	0.5	0	0.5
Income tax effect of share-based compensation exercises and vesting	0.4		0.4
Income tax effect of suspended benefits from share-based compensation	2.8		2.8
Ending balance at Dec. 31, 2012	101.8	14.1	76.9	42.2	(24.6)	(6.8)	0
Ending balance (in shares) at Dec. 31, 2012		14,109,255
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	54.1			43.4		10.2	0.5
Share-based compensation	4.1		4.1	0
Restricted stock awards and options exercised (in shares)		204,650
Restricted stock awards and options exercised	0	0.2	(0.2)
Restricted stock cancelled (in shares)		(4,000)
Restricted stock cancelled	0	0	0
Performance shares issued (in shares)		14,000
Performance shares issued	0.4	0	0.4
Capital contribution from non-controlling interest	5.0		0.5				4.5
Purchase of treasury stock	(2.2)				(2.2)
Exercise of stock options (in shares)		40,334
Exercise of stock options	0.4	0.1	0.3
Income tax effect of share-based compensation exercises and vesting	0.4		0.4
Ending balance at Dec. 31, 2013	164.0	14.4	82.4	85.6	(26.8)	3.4	5.0
Ending balance (in shares) at Dec. 31, 2013		14,364,239
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	29.5			45.6		(17.4)	1.3
Share-based compensation	5.8		5.8	0
Restricted stock awards and options exercised (in shares)		140,250
Restricted stock awards and options exercised	0	0.1	(0.1)
Restricted stock cancelled (in shares)		(4,668)
Restricted stock cancelled	(0.1)	0	(0.1)
Performance shares issued (in shares)		14,000
Performance shares issued	0.7	0	0.7
Dividends	(4.7)us-gaap_Dividends			(4.7)
Purchase of treasury stock	(4.4)				(4.4)
Exercise of stock options (in shares)	2,500
Income tax effect of share-based compensation exercises and vesting	1.1		1.1
Ending balance at Dec. 31, 2014	$ 191.9	$ 14.5	$ 89.8	$ 126.5	$ (31.2)	$ (14.0)	$ 6.3
Ending balance (in shares) at Dec. 31, 2014		14,513,821

Consolidated Statement of Shareholders' Equity (Parenthetical) (Treasury Stock)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Treasury Stock
Purchase of treasury stock (in shares)	79,733	62,694	198,339

Consolidated Statements of Cash Flows (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
OPERATING ACTIVITIES
Net income	$ 46.9us-gaap_ProfitLoss	$ 43.9us-gaap_ProfitLoss	$ 31.8us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23.2	19.2	18.0
Debt extinguishment costs	0	0	0.3
Share-based compensation	5.8us-gaap_ShareBasedCompensation	4.7us-gaap_ShareBasedCompensation	2.7us-gaap_ShareBasedCompensation
Gain on sale of business and assets	(1.9)us-gaap_GainLossOnDispositionOfAssets1	(6.0)us-gaap_GainLossOnDispositionOfAssets1	(0.2)us-gaap_GainLossOnDispositionOfAssets1
Gain on acquisition of business	0	(0.6)	0
Deferred income taxes	0.5	(2.3)	7.5
Other	1.0us-gaap_OtherNoncashIncomeExpense	0us-gaap_OtherNoncashIncomeExpense	0us-gaap_OtherNoncashIncomeExpense
Changes in operating assets and liabilities, excluding business acquisitions:
Accounts receivable	(27.9)	8.5	9.8
Inventories and other current assets	(23.3)	(4.9)	7.1
Accounts payable and accrued expenses	27.9	(7.5)	(21.4)
Other	1.4	5.3	0.3
Net cash provided by operating activities	53.6	60.3	55.9
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(25.8)	(30.1)	(29.6)
Proceeds from sale and leaseback transactions	0	7.4	5.9
Proceeds from sale of assets	2.1	14.2	0.4
Business acquisitions, net of cash acquired	(72.7)	(45.8)	(97.0)
Net cash used by investing activities	(96.4)	(54.3)	(120.3)
FINANCING ACTIVITIES
Proceeds from term loans and other debt	14.2	0	25.9
Payments on term loans and other debt	(6.6)us-gaap_RepaymentsOfLongTermDebt	(4.2)us-gaap_RepaymentsOfLongTermDebt	(3.7)us-gaap_RepaymentsOfLongTermDebt
Proceeds from revolving credit facility, net	50.3	9.1	8.9
Bank debt issue costs	0us-gaap_PaymentsOfDebtIssuanceCosts	0us-gaap_PaymentsOfDebtIssuanceCosts	(0.9)us-gaap_PaymentsOfDebtIssuanceCosts
Other	(1.3)	0.8	1.1
Income tax effect of suspended benefits from share-based compensation	0	0	2.8
Income tax effect of share-based compensation exercises and vesting	1.1	0.4	0.4
Dividend	(4.7)us-gaap_PaymentsOfDividends	0us-gaap_PaymentsOfDividends	0us-gaap_PaymentsOfDividends
Purchase of treasury stock	(4.4)	(2.2)	(4.0)
Net cash provided by financing activities	48.6	3.9	30.5
Effect of exchange rate changes on cash	(3.0)	0.9	0.3
Increase in cash and cash equivalents	2.8	10.8	(33.6)
Cash and cash equivalents at beginning of period	55.2	44.4	78.0
Cash and cash equivalents at end of period	58.0	55.2	44.4
Income taxes paid	25.8us-gaap_IncomeTaxesPaid	25.0us-gaap_IncomeTaxesPaid	5.5us-gaap_IncomeTaxesPaid
Interest paid	$ 24.0us-gaap_InterestPaid	$ 24.8us-gaap_InterestPaid	$ 23.8us-gaap_InterestPaid

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Consolidation and Basis of Presentation: The consolidated financial statements include the accounts of the Company and all of its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. The Company does not have off-balance sheet arrangements or financings with unconsolidated entities or other persons. In the ordinary course of business, the Company leases certain real properties owned by related parties as described in Note 12. Transactions with related parties are in the ordinary course of business and are not material to the Company’s financial position, results of operations or cash flows. In December 2014, the Company purchased real estate owned by a company owned by the Chairman and Chief Executive Officer of the Company for cash of $1.8 million. The transaction is included in the capital expenditures of the cash flow statement.

Accounting Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash Equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.

Inventories: Inventories are stated at the lower of first-in, first-out (“FIFO”) cost or market value.



Major Classes of Inventories	December 31, 2014		December 31, 2013
	(In millions)
Finished goods	$	146.0	$	124.1
Work in process	19.8		36.0
Raw materials and supplies	72.6		61.3
Inventories, net	$	238.4	$	221.4

Other inventory items
Inventory reserves	$	29.9	$	28.4
Consigned Inventory	$	7.8	$	6.6

Property, Plant and Equipment: Property, plant and equipment are carried at cost. Additions and associated interest costs are capitalized and expenditures for repairs and maintenance are charged to operations. Depreciation of fixed assets is computed principally by the straight-line method based on the estimated useful lives of the assets ranging from five to 50 years for buildings, and one to 20 years for machinery and equipment.

The following table summarizes property, plant and equipment at December 31, 2014 and December 31, 2013:



	December 31, 2014		December 31, 2013
Property, plant and equipment:
Land and land improvements	$	7.1	$	6.5
Buildings	68.4		58.2
Machinery and equipment	293.5		261.5
Total property, plant and equipment	369.0		326.2
Less accumulated depreciation	227.9		210.8
Net property, plant and equipment	$	141.1	$	115.4

Impairment of Long-Lived Assets: We assess the recoverability of long-lived assets (excluding goodwill) and identifiable acquired intangible assets with finite useful lives, whenever events or changes in circumstances indicate that we may not be able to recover the assets’ carrying amount. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected net future undiscounted cash flows to be generated by that asset, or, for identifiable intangibles with finite useful lives, by determining whether the amortization of the intangible asset balance over its remaining life can be recovered through undiscounted future cash flows. The amount of impairment of identifiable intangible assets with finite useful lives, if any, to be recognized is measured based on projected discounted future cash flows. We measure the amount of impairment of other long-lived assets (excluding goodwill) as the amount by which the carrying value of the asset exceeds the fair market value of the asset, which is generally determined, based on projected discounted future cash flows or appraised values. We classify long-lived assets to be disposed of other than by sale as held and used until they are disposed.

Goodwill and Indefinite-Lived Assets: In accordance with Accounting Standards Codification (“ASC”) 350, “Intangibles — Goodwill and Other” (“ASC 350”), the Company does not amortize goodwill or indefinite-lived intangible assets recorded in connection with business acquisitions.

Goodwill and indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be a possible permanent loss of value in accordance with ASC 350.

Goodwill is tested for impairment at the reporting unit level and is based on the net assets for each reporting unit, including goodwill and intangible assets, compared to the fair value. In accordance with Accounting Standard Update (“ASU”) 2011-08, an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step quantitative impairment test is unnecessary.

In assessing the qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we identify and assess relevant drivers of fair value and events and circumstances that may impact the fair value and the carrying amount of the reporting unit. The identification of relevant events and circumstances and how these may impact a reporting unit’s fair value or carrying amount involve significant judgments and assumptions. The judgments and assumptions include the identification of macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, Company-specific events and share price trends, and the assessment of whether each relevant factor will impact the impairment test positively or negatively and the magnitude of any such impact.

If our qualitative assessment concludes that it is more likely than not that impairment exists then a quantitative assessment is required. In a quantitative assessment, we use an income approach and other valuation techniques to estimate the fair value of our reporting units. Absent an indication of fair value from a potential buyer or similar specific transactions, we believe that using this methodology provides reasonable estimates of a reporting unit’s fair value. The income approach is based on projected future debt-free cash flow that is discounted to present value using factors that consider the timing and risk of the future cash flows. We believe that this approach is appropriate because it provides a fair value estimate based upon the reporting unit’s expected long-term operating and cash flow performance. This approach also mitigates most of the impact of cyclical downturns that occur in the reporting unit’s industry. The income approach is based on a reporting unit’s projection of operating results and cash flows that is discounted using a weighted-average cost of capital. The projection is based upon our best estimates of projected economic and market conditions over the related period including growth rates, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements based on management projections. There are inherent uncertainties, however, related to these factors and to our judgment in applying them to this analysis. Nonetheless, we believe that this method provides a reasonable approach to estimate the fair value of our reporting units.

The Company completed its annual goodwill impairment test for each year presented and confirmed no reporting unit was at risk of failing the impairment test for any periods presented herein.

Indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be a possible permanent loss of value in accordance with ASC 350. In accordance with ASU 2011-08, an entity may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying value. The Company completed its annual indefinite-lived intangible impairment assessment. As a result of this analysis, we concluded that no impairment existed.

Fair Values of Financial Instruments: Certain financial instruments are required to be recorded at fair value. The Company measures financial assets and liabilities at fair value in three levels of inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is:

Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and borrowings under the Credit Agreement (as defined in Note 9) approximate fair value at December 31, 2014 and December 31, 2013. The fair values of long-term debt and pension plan assets are disclosed in Note 9 and Note 13, respectively.

The Company has not changed its valuation techniques for measuring fair value during 2014, and there were no transfers between levels during the periods presented.

Income Taxes: The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and the tax bases of assets and liabilities and are measured using the current enacted tax rates. In determining these amounts, management determined the probability of realizing deferred tax assets, taking into consideration factors including historical operating results, cumulative earnings and losses, expectations of future earnings, taxable income and the extended period of time over which the postretirement benefits will be paid and accordingly records valuation allowances if, based on the weight of available evidence, it is more likely than not that some portion or all of our deferred tax assets will not be realized as required by ASC 740, “Income Taxes” (“ASC 740”).

Stock-Based Compensation: The Company follows the provisions of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. Compensation expense for awards with service conditions only that are subject to graded vesting is recognized on a straight-line basis over the term of the vesting period.

Under the provisions of the Company’s 1998 Long-Term Incentive Plan, as amended (“1998 Plan”), which is administered by the Compensation Committee of the Company’s Board of Directors, incentive stock options, non-statutory stock options, stock appreciation rights (“SARs”), restricted share units, performance shares or stock awards may be awarded to directors and all employees of the Company and its subsidiaries. Stock options will be exercisable in whole or in installments as may be determined provided that no options will be exercisable more than ten years from date of grant. The exercise price will be the fair market value at the date of grant. The aggregate number of shares of the Company’s common stock that may be awarded under the 1998 Plan is 3,700,000, all of which may be incentive stock options. No more than 500,000 shares shall be the subject of awards to any individual participant in any one calendar year.

Revenue Recognition: The Company recognizes revenue, other than from long-term contracts, when title is transferred to the customer, typically upon shipment. Revenue from long-term contracts (approximately 8% of consolidated revenue) is accounted for under the percentage of completion method, and recognized on the basis of the percentage each contract’s cost to date bears to the total estimated contract cost. Revenue earned on contracts in process that are in excess of billings, is classified in unbilled contract revenues in the accompanying consolidated balance sheets. Billings that are in excess of revenues earned on contracts in process are classified in accrued expenses in the accompanying balance sheets.

Cost of Sales: Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of sales also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity.

Shipping and Handling Costs: All shipping and handling costs are included in cost of sales in the Consolidated Statements of Income.

Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are recorded at net realizable value. Accounts receivable are reduced by an allowance for amounts that may become uncollectable in the future. The Company’s policy is to identify and reserve for specific collectability concerns based on customers’ financial condition and payment history. During 2014 and 2013, we sold approximately $95.0 million and $75.4 million, respectively, of accounts receivable to mitigate accounts receivable concentration risk and to provide additional financing capacity. In compliance with ASC 860, “Transfers and Servicing”, sales of accounts receivable are reflected as a reduction of accounts receivable in the Consolidated Balance Sheets and the proceeds are included in the cash flows from operating activities in the Consolidated Statements of Cash flows. In 2014 and 2013, an expense in the amount of $0.5 million and $0.4 million, respectively, related to the discount on sale of accounts receivable is recorded in the Consolidated Statements of Income.

Concentration of Credit Risk: The Company sells its products to customers in diversified industries. The Company performs ongoing credit evaluations of its customers’ financial condition but does not require collateral to support customer receivables. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. As of December 31, 2014, the Company had uncollateralized receivables with six customers in the automotive industry, each with several locations, aggregating $37.7 million, which represented approximately 18% of the Company’s trade accounts receivable. During 2014, sales to these customers amounted to approximately $252.6 million, which represented approximately 18% of the Company’s net sales.

Environmental: The Company accrues environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Costs that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. The Company records a liability when environmental assessments and/or remedial efforts are probable and can be reasonably estimated. The estimated liability of the Company is not reduced for possible recoveries from insurance carriers.

Legal Contingencies: We are involved in a variety of claims, suits, investigations and administrative proceedings with respect to commercial, premises liability, product liability, employment and environmental matters arising from the ordinary course of business. We accrue reserves for legal contingencies, on an undiscounted basis, when it is probable that we have incurred a liability and we can reasonably estimate an amount. When a single amount cannot be reasonably estimated, but the cost can be estimated within a range, we accrue the minimum amount in the range. Based upon facts and information currently available, we believe the amounts reserved are adequate for such pending matters. We monitor the development of legal proceedings on a regular basis and will adjust our reserves when, and to the extent, additional information becomes available.

Foreign Currency Translation: The functional currency for a majority of subsidiaries outside the United States is the local currency. Financial statements for these subsidiaries are translated into U.S. dollars at year-end exchange rates for assets and liabilities and weighted-average exchange rates for revenues and expenses. The resulting translation adjustments are recorded in accumulated comprehensive income (loss) in shareholders’ equity.

Weighted-Average Number of Shares Used in Computing Earnings Per Share: The following table sets forth the weighted-average number of shares used in the computation of earnings per share:



	Year Ended December 31,
	2014	2013	2012
	(In whole shares)
Weighted average basic shares outstanding	12,097,018	11,936,772	11,920,593
Plus dilutive impact of employee stock awards	279,058	295,393	195,836
Weighted average diluted shares outstanding	12,376,076	12,232,165	12,116,429

Earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average basic shares outstanding. Diluted earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average diluted shares outstanding.

Earnings (loss) from discontinued operations per common share is computed as income (loss) from discontinued operations, net of taxes divided by the weighted average basic shares outstanding. Diluted earnings (loss) from discontinued operations per common share is computed as income (loss) from discontinued operations, net of taxes divided by the weighted average diluted shares outstanding.

Total basic earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average basic shares outstanding. Total diluted earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average diluted shares outstanding.

Outstanding stock options with exercise prices greater than the average price of the common shares are anti-dilutive and are not included in the computation of diluted earnings per share. For the year ended December 31, 2014 and 2013, the anti-dilutive shares were insignificant.

Recent Accounting Pronouncements Not Yet Adopted

In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which raises the threshold for disposals to qualify as discontinued operations and requires new disclosures for discontinued operations and for individually material disposal transactions that do not meet the definition of a discontinued operation. The ASU is effective prospectively for reporting periods beginning with the first quarter of 2015. Early adoption is permitted for disposals that have not been previously reported in the financial statements. We believe the adoption of this ASU will have an insignificant effect on our consolidated financial statement as it only applies to future disposals.

In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. generally accepted accounting principles and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to enable financial statement users to better understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The ASU will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue that is recognized. The ASU is effective for annual reporting periods beginning after December 15, 2016, and will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is currently evaluating the impact of adopting this guidance.

Reclassification: Certain amounts in the prior years' financial statements have been reclassified to conform to the current year presentation.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Segments

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segments

The Company operates through three reportable segments: Supply Technologies, Assembly Components and Engineered Products. Supply Technologies provides our customers with Total Supply Management™ services for a broad range of high-volume, specialty production components. Total Supply Management™ manages the efficiencies of every aspect of supplying production parts and materials to our customers’ manufacturing floor, from strategic planning to program implementation, and includes such services as engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing services and ongoing technical support. Assembly Components manufactures cast aluminum components, automotive and industrial rubber and thermoplastic products, gasoline direct injection systems, fuel filler and hydraulic assemblies for automotive, agricultural equipment, construction equipment, heavy-duty truck and marine equipment industries. Assembly Components also provides value-added services such as design and engineering, machining and assembly. Engineered Products operates a diverse group of niche manufacturing businesses that design and manufacture a broad range of high quality products engineered for specific customer applications.

The Company primarily evaluates performance and allocates resources based on segment operating income as well as projected future performance. Segment operating income is defined as revenues less expenses identifiable to the product lines included within each segment. Segment operating income reconciles to consolidated income from continuing operations before income taxes by deducting corporate costs and other income or expense items that are not attributed to the segments and net interest expense.

Results by business segment were as follows:



	Year Ended December 31,
	2014			2013			2012
	(In millions)
Net sales:
Supply Technologies	$	559.6		$	471.9		$	483.8
Assembly Components	490.5			412.8			304.0
Engineered Products	328.6			318.5			340.4
	$	1,378.7		$	1,203.2		$	1,128.2
Segment operating income:
Supply Technologies	$	42.5		$	35.0		$	37.5
Assembly Components	42.0			31.8			19.9
Engineered Products	42.7			47.1			55.0
Total segment operating income	127.2			113.9			112.4
Corporate costs	(29.3		)	(23.1		)	(18.9		)
Litigation judgment and settlement costs	—			(5.2		)	(13.0		)
Gain on acquisition of business	—			0.6			—
Interest expense	(26.1		)	(25.9		)	(26.0		)
Income from continuing operations before income taxes	$	71.8		$	60.3		$	54.5



	Year Ended December 31,
	2014		2013		2012
	(In millions)
Identifiable assets:
Supply Technologies	$	277.6	$	241.7	$	207.0
Assembly Components	340.5		276.7		230.0
Engineered Products	246.9		183.1		199.4
General corporate	109.2		117.2		90.2
	$	974.2	$	818.7	$	726.6
Depreciation and amortization expense:
Supply Technologies	$	4.5	$	3.0	$	3.9
Assembly Components	14.2		11.6		9.5
Engineered Products	3.3		3.4		3.2
General corporate	1.2		1.2		1.4
	$	23.2	$	19.2	$	18.0
Capital expenditures:
Supply Technologies	$	5.8	$	3.8	$	1.6
Assembly Components	14.0		21.5		22.1
Engineered Products	2.4		3.6		3.1
General corporate	1.5		1.2		2.8
	$	23.7	$	30.1	$	29.6

The percentage of net sales by product line included in each segment was as follows:



	Year Ended December 31,
	2014		2013		2012
Supply Technologies:
Supply Technologies	88	%	87	%	88	%
Engineered specialty products	12	%	13	%	12	%
	100	%	100	%	100	%
Assembly Components:
Fluid routing	49	%	54	%	50	%
Aluminum products	43	%	37	%	39	%
Rubber and plastics	6	%	7	%	9	%
Screw products	2	%	2	%	2	%
	100	%	100	%	100	%
Engineered Products:
Industrial equipment business	78	%	77	%	80	%
Forged and machined products	22	%	23	%	20	%
	100	%	100	%	100	%

The Company’s approximate percentage of net sales by geographic region was as follows:



	Year Ended December 31,
	2014		2013		2012
United States	74	%	74	%	77	%
Canada	7	%	8	%	8	%
Europe	6	%	5	%	4	%
Asia	6	%	6	%	6	%
Mexico	5	%	5	%	4	%
Other	2	%	2	%	1	%
	100	%	100	%	100	%

The basis for attributing revenue to individual countries is final shipping destination.

At December 31, 2014, 2013 and 2012, approximately 72%, 77% and 81%, respectively, of the Company’s assets were maintained in the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Acquisitions

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Acquisitions

In December 2014, the Company acquired all the outstanding capital stock of Saet S.p.A. (“Saet”) for $22.1 million in cash. Saet is a leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions through its locations in Italy, China, India and Tennessee. The financial results of Saet are included in the Company's Engineered Products segment from the date of acquisition. Saet's sales for the year ended December 31, 2013 were approximately $35.9 million.

The acquisition of Saet was accounted for under the acquisition method of accounting. The entire purchase price allocation for Saet is preliminary. At December 31, 2014, the fair values of the assets acquired and liabilities assumed have been preliminarily estimated based on their carrying values and the excess consideration of $23.2 million has been preliminarily recorded as goodwill due to the proximity of the acquisition to the year-end date and pending finalization of the fair value. These preliminary estimates will be revised during the measurement period in 2015 as all pertinent information regarding finalization of the third-party valuations for inventories, intangible assets, goodwill, tangible assets, other liabilities and deferred income tax assets and liabilities acquired are fully evaluated by the Company.

In October 2014, the Company acquired all the outstanding capital stock of Autoform Tool and Manufacturing (“Autoform”) for a total purchase consideration of $48.9 million in cash. The acquisition was funded from borrowings under the revolving credit facility provided by the Credit Agreement. Autoform is a supplier of high end pressure fuel lines used in gasoline direct injection systems across a large number of engine platforms. Autoform's production facilities are located in Indiana. The financial results of Autoform are included in the Company's Assembly Components segment from the date of acquisition. Autoform generated approximately $36.8 million of revenue for the year ended December 31, 2013.

In June 2014, the Company acquired all the outstanding capital stock of Apollo Aerospace Group (“Apollo”) for $6.5 million, net of cash acquired. Apollo is a supply chain management company providing Class C production components and supply chain solutions to aerospace customers worldwide. Apollo generated net sales of approximately $8.1 million for its fiscal year ended March 31, 2014. The financial results of Apollo are included in the Company's Supply Technologies segment from the date of acquisition.

The acquisitions of Autoform and Apollo were accounted for under the acquisition method of accounting. The purchase price allocations were preliminary as of December 31, 2014. The Apollo purchase agreement provides payment of contingent consideration of approximately $2.4 million based on achievement of certain EBITDA targets over two years. The fair value of the earn-out was approximately $1.1 million at the date of the acquisition for a total purchase consideration of $6.5 million. On the acquisition date, a liability was recognized for the estimate of the acquisition date fair value of the earn-out. Any change in the fair value of the earn-out subsequent to the acquisition date will be recognized in selling, general and administrative expenses. Management's valuation of the fair value of tangible and intangible assets acquired and liabilities assumed for these acquisitions is based on estimates and assumptions. The purchase price allocation relating to these acquisitions is subject to further adjustment until all pertinent information regarding finalization of the appraisals for intangibles, goodwill and deferred income tax assets and liabilities acquired are fully evaluated by the Company and independent valuations are complete. Revisions to these estimates as fair values are finalized will be reflected in the financial statements throughout the measurement period. Based on the preliminary purchase price allocation for these acquisitions, goodwill of $5.7 million was recorded.

In November 2013, the Company acquired all the outstanding capital stock of QEF Global Limited (“QEF”). QEF is a provider of supply chain management solutions with four locations throughout Ireland, Scotland and England. QEF's sales for the year ended December 31, 2012 totaled approximately $14.0 million.

In October 2013, the Company acquired all of the outstanding capital stock of Henry Halstead Ltd. (“Henry Halstead”). Henry Halstead is a provider of supply chain management solutions throughout the United Kingdom and Ireland. The Company paid $24.2 million (net of cash acquired) in the aggregate for QEF and Henry Halstead. QEF and Henry Halstead are included in our Supply Technologies segment from their respective dates of acquisition. Based on the final purchase price allocations for these acquisitions, goodwill of $7.9 million was recorded.

During August 2013, the Company acquired certain assets and liabilities of a small business, which resulted in a pre-tax gain of $0.6 million during the third quarter of 2013. The small business is engaged in the business of designing, manufacturing, selling, distributing and installing various tube bending machines and related tooling, spare and replacement parts and ancillary services for commercial applications. The small business is included in our Engineered Products segment from the date of acquisition. The purchase price was not significant to the results of operations, financial condition or liquidity.

Effective April 26, 2013, the Company acquired certain assets and assumed specific liabilities relating to Bates Rubber Inc. (“Bates”) for a total purchase price of $20.8 million in cash. The acquisition was funded from borrowings under the revolving credit facility provided by the Credit Agreement. Bates is a leading manufacturer of extruded, formed and molded products and assemblies for the transportation and industrial markets. Bates’ production facilities are located in Tennessee. The financial results of Bates are included in the Company’s Assembly Components segment and had insignificant revenues and net income from the date acquired. The acquisition was accounted for under the acquisition method of accounting. Based on the final purchase price allocation, goodwill of $5.0 million was recorded. Assuming the QEF, Henry Halstead and Bates acquisitions had taken place at the beginning of 2012, the Company's results would not have been materially different.

On November 30, 2012, the Company completed the acquisition of Elastomeros Tecnicos Moldeados Inc. (“ETM”) for $1.1 million in cash, $0.5 million in promissory notes payable and $0.1 million annually in each of the next four years, if ETM achieves certain earnings levels. ETM is a provider of molded rubber products and has been integrated into the Company’s Assembly Components segment. The acquisition was accounted for under the acquisition method of accounting. Under the acquisition method of accounting, the purchase price is allocated to ETM’s tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of November 30, 2012, the effective date of the acquisition. Based on the final purchase price allocation, goodwill of $0.9 million was recorded.

On March 23, 2012, the Company completed the acquisition of Fluid Routing Solutions LLC (“FRS”), a leading manufacturer of automotive and industrial rubber and thermoplastic hose products and fuel filler and hydraulic fluid assemblies, in an all cash transaction valued at $98.8 million. FRS products include fuel filler, hydraulic, and thermoplastic assemblies and several forms of manufactured rubber and thermoplastic hose, including bulk and formed fuel, power steering, transmission oil cooling, hydraulic and thermoplastic hose. FRS sells to automotive and industrial customers throughout North America, Europe and Asia. FRS has five production facilities located in Florida, Michigan, Ohio, Tennessee and the Czech Republic. FRS is included in the Company’s Assembly Components segment and had revenues of $152.4 million and net income of $7.1 million for the period from the date acquired through December 31, 2012. The Company funded the acquisition with cash of $40.0 million, a $25.0 million seven-year amortizing term loan provided by the Credit Agreement and secured by certain real estate and machinery and equipment of the Company and $33.8 million of borrowings under the revolving credit facility provided by the Credit Agreement. The acquisition was accounted for under the acquisition method of accounting. Under the acquisition method of accounting, the total purchase price is allocated to FRS’ net tangible assets and intangible assets acquired and liabilities assumed based on their estimated fair values as of March 23, 2012, the effective date of the acquisition. Based on management’s valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions, the final purchase price is allocated as follows:



	(In millions)
Cash and cash equivalents	$	2.8
Accounts receivable	30.9
Inventories	12.4
Prepaid expenses and other current assets	2.7
Property, plant and equipment	30.2
Customer relationships	29.4
Trademarks and trade name	11.5
Other assets	0.2
Accounts payable	(17.8		)
Accrued expenses	(15.6		)
Deferred tax liability	(26.4		)
Other long-term liabilities	(0.8		)
Goodwill	39.3
Total purchase price	$	98.8

The following unaudited pro forma information is provided to present a summary of the combined results of the Company’s operations with FRS as if the acquisition had occurred on January 1, 2011. The unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of what the results would have been had the acquisition been completed at the date indicated above.



	Year Ended December 31,
	2012
	(In millions)
Pro forma revenues	$	1,179.1
Pro forma net income	$	39.1

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Dispositions

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Dispositions

On September 3, 2013, the Company sold all of the outstanding equity interests of a non-core business unit in the Supply Technologies segment for $8.5 million in cash. This business unit is a provider of high-quality machine to machine information technology solutions, products and services. As a result of the sale, this business unit has been removed from the Supply Technologies segment and presented as a discontinued operation for all of the periods presented. Select financial information included in discontinued operations were as follows:



	Year Ended December 31,
	2013			2012

Net sales	$	5.2		$	5.8

Loss from discontinued operations before tax	$	(1.3	)	$	(4.0	)
Income tax benefit from operations	0.5			1.6
Net loss from discontinued operations	(0.8		)	(2.4		)

Gain on sale of business before tax	5.3			—
Income tax expense from gain on sale of business	(1.5		)	—
Net gain on sale of business	3.8			—
Income (loss) from discontinued operations, net of taxes	$	3.0		$	(2.4	)

On August 1, 2013, the Company sold 25% of its Southwest Steel Processing LLC ("SSP") business to Arkansas Steel Associates, LLC for $5.0 million in cash. SSP is included in our Engineered Products segment. This transaction facilitates the Company's capacity expansion in one of its growing product lines.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

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-Section 50

-Paragraph 1

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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-Topic 205

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 7: http://www.xbrl.org/2003/role/presentationRef

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-Publisher FASB

-Name Accounting Standards Codification

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-Name Accounting Standards Codification

-Topic 360

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-Section 45

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-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

+ Details

Goodwill

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2014, 2013, and 2012 were as follows:



	Supply Technologies		Assembly Components		Engineered Products			Total
	(In millions)
Balance at January 1, 2012	$	—	$	4.6	$	4.9		$	9.5
Acquisitions	—		40.2		—			40.2
Balance at December 31, 2012	—		44.8		4.9			49.7
Acquisitions	6.2		4.2		—			10.4
Foreign currency translation	0.2		—		0.1			0.3
Balance at December 31, 2013	6.4		49.0		5.0			60.4
Acquisitions	0.7		5.0		23.2			28.9
Foreign currency translation	0.5		—		(0.3		)	0.2
Balance at December 31, 2014	$	7.6	$	54.0	$	27.9		$	89.5

The increase in goodwill from December 31, 2013 is due to the acquisitions of Apollo in the second quarter of 2014 and Autoform and Saet in the fourth quarter of 2014. Apollo is included in the Supply Technologies reportable segment, Autoform is included in the Assembly Components reportable segment and Saet is included in the Engineered Products reportable segment. The goodwill associated with the Autoform transaction is deductible for income tax purposes. The goodwill associated with the Apollo and Saet transactions is not deductible for income tax purposes.

The increase in goodwill from December 31, 2012 is due to the acquisitions of Bates in the second quarter of 2013 and Henry Halstead and QEF in the fourth quarter of 2013. Bates is included in the Assembly Components reportable segment and Henry Halstead and QEF are included in the Supply Technologies reportable segment. The goodwill associated with the Bates transaction is deductible for income tax purposes. The goodwill associated with the Henry Halstead and QEF transactions is not deductible for income tax purposes.

The increase in goodwill from January 1, 2012 to December 31, 2012 is due to the acquisitions of FRS in the first quarter of 2012 and ETM in the fourth quarter of 2012.

Other Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Information regarding other intangible assets as of December 31, 2014 and December 31, 2013 follows:



	December 31, 2014							December 31, 2013
	Weighted Average Useful Life (Years)	Acquisition Costs		Accumulated Amortization		Net		Acquisition Costs		Accumulated Amortization		Net
		(In millions)
Non-contractual customer relationships	11.9	$	77.3	$	13.2	$	64.1	$	61.1	$	8.7	$	52.4
Indefinite-lived tradenames	*	14.0		*		14.0		11.7		*		11.7
Other	17.5	12.3		2.3		10.0		3.9		1.8		2.1
Total		$	103.6	$	15.5	$	88.1	$	76.7	$	10.5	$	66.2

* Not meaningful, tradenames have an indefinite life.

Information regarding amortization expense of other intangible assets follows:



	Year Ended December 31,
	2014		2013		2012
	(In millions)
Amortization expense	$	4.8	$	3.5	$	2.5

Amortization expense for the five years subsequent to December 31, 2014 follows:



	(In millions)
2015	$	6.5
2016	$	6.4
2017	$	6.4
2018	$	6.2
2019	$	5.8

Other Long-Term Assets

12 Months Ended

Dec. 31, 2014

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Long-Term Assets

Other assets consist of the following:



	December 31,
	2014		2013
	(In millions)
Pension assets	$	64.6	$	73.3
Deferred financing costs, net	5.1		5.7
Other	3.6		1.4
Total	$	73.3	$	80.4

Accrued Expenses

12 Months Ended

Dec. 31, 2014

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses and other current liabilities consist of the following:



	December 31,
	2014		2013
	(In millions)
Accrued salaries, wages and benefits	$	25.4	$	22.2
Advance billings	28.4		20.4
Current portion of long-term debt	9.4		4.4
Warranty accrual	6.9		5.4
Interest payable	5.2		5.6
Current portion of other post-retirement liabilities	1.6		1.7
Taxes, income and other	—		2.9
Other	26.7		23.4
Total	$	103.6	$	86.0

Substantially all advance billings relate to the Company’s industrial equipment business unit. Warranty liabilities are primarily associated with the Company’s industrial equipment business unit and the fluid routing solutions business.

The Company estimates the amount of warranty claims on sold products that may be incurred based on current and historical data. The actual warranty expense could differ from the estimates made by the Company based on product performance. The following table presents the changes in the Company’s product warranty liability for the years ended December 31, 2014, 2013, and 2012:



	Year Ended December 31,
	2014			2013			2012
	(In millions)
Balance at January 1,	$	5.4		$	6.9		$	4.2
Claims paid during the year	(2.9		)	(6.4		)	(6.0		)
Warranty expense	4.0			4.9			5.4
Acquired warranty liabilities	0.4			—			3.3
Balance at December 31,	$	6.9		$	5.4		$	6.9

Financing Arrangements

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Financing Arrangements

Long-term debt consists of the following:



					Carrying Value at
	Issuance Date	Maturity Date	Interest Rate at December 31, 2014		December 31, 2014		December 31, 2013
					(In millions)
Senior Notes	April 1, 2011	April 1, 2021	8.125	%	$	250.0	$	250.0
Revolving credit	—	July 31, 2019	1.69	%	162.0		111.0
Term loan	—	July 31, 2019	2.25	%	28.8		18.7
Other	Various	Various	Various		3.0		3.9
Total debt					443.8		383.6
Less current maturities					9.4		4.4
Total long-term debt, net of current portion					$	434.4	$	379.2

On April 7, 2011, the Company completed the sale of $250.0 million in the aggregate principal amount of 8.125% senior notes due 2021 (the "Notes"). The Notes bear an interest rate of 8.125% per annum, payable semi-annually in arrears on April 1 and October 1 of each year. The Notes mature on April 1, 2021. The Company is a party to a credit and security agreement, dated November 5, 2003, as amended (the “Credit Agreement”), with a group of banks, under which it may borrow or issue standby letters of credit or commercial letters of credit.

On July 31, 2014, the Company entered into a sixth amendment and restatement of the credit agreement (the “Amended Credit Agreement”). The Amended Credit Agreement, among other things, increases the revolving credit facility to $230.0 million, provides a term loan for $16.1 million and extends the maturity date of the borrowings under the Amended Credit Agreement to July 31, 2019. The revolving credit facility includes a Canadian sub-limit of $15.0 million and a European sub-limit of $10.0 million (which may be increased to $25.0 million) for borrowings in those locations.

At the Company’s election, domestic amounts borrowed under the revolving credit facility may be borrowed at either:

•LIBOR plus 1.5% to 2.5%; or

•the bank’s prime lending rate minus 0.25% to 1.25%.

At the Company's election, amounts borrowed under the term loan may be borrowed at either:

•LIBOR plus 2.0% to 3.0%; or

•the bank’s prime lending rate minus 0.75% to plus 0.25%.

The LIBOR-based interest rate is dependent on the Company’s debt service coverage ratio, as defined in the Amended Credit Agreement.

Amounts borrowed under the Canadian revolving credit facility provided by the Amended Credit Agreement may be borrowed at either:

•the Canadian deposit offered rate plus 1.5% to 2.5%;

•the Canadian prime lending rate plus 0.0% to 1.0%; or

•the US base rate plus 0.0% to 1.0%.

Under the Amended Credit Agreement, a detailed borrowing base formula provides borrowing availability to the Company based on percentages of eligible accounts receivable and inventory. The term loan is amortized based on a seven-year schedule with the balance due at maturity (July 31, 2019). The Amended Credit Agreement also reduced the commitment fee for the revolving credit facility. Additionally, the Company has the option, pursuant to the Amended Credit Agreement, to increase the availability under the revolving credit facility by $50.0 million.

The Amended Credit Agreement was further amended in accordance with Amendment No. 1 to the Amended Credit Agreement, dated October 24, 2014 (the “Amendment”). The Amendment:


•	increases the revolving credit facility from $230.0 million to $250.0 million;


•	increases the inventory advance rate from 50% to 60%, reducing back to 50% on a pro-rata quarterly basis over 36 months commencing April 1, 2015;


•	reloads the term loan up to $35.0 million from $15.5 million, of which $28.8 million has been borrowed and is outstanding as of December 31, 2014;


•	increases the Canadian sub-limit up to $25.0 million from $15.0 million;


•	increases the European sub-limit up to $25.0 million from $10.0 million; and


•	provides minor pricing adjustments including pricing the first $22.0 million drawn on the revolver at LIBOR + 3.50%, reducing automatically on a pro-rata quarterly basis over 36 months commencing April 1, 2015.

At December 31, 2014, in addition to amounts borrowed under the revolving credit facility, there was $20.5 million outstanding for standby letters of credit.

At December 31, 2014, the Company had approximately $55.4 million of unused borrowing capacity under the revolving credit facility.

The following table represents fair value information of the Notes, classified as Level 1, at December 31, 2014 and December 31, 2013. The fair value was estimated using quoted market prices.



	December 31, 2014		December 31, 2013
	(In millions)
Carrying amount	$	250.0	$	250.0
Fair value	$	266.3	$	275.6

Maturities of long-term debt during each of the five years subsequent to December 31, 2014 follow:



	(In millions)
2015	$	9.4
2016	$	12.2
2017	$	12.1
2018	$	6.5
2019	$	153.6

Foreign subsidiaries of the Company had no borrowings at December 31, 2014 and 2013 and outstanding bank guarantees of approximately $5.2 million and $7.2 million at December 31, 2014 and 2013, respectively, under their credit arrangements.

The Notes are general unsecured senior obligations of the Company and are fully and unconditionally guaranteed on a joint and several basis by all material 100% owned domestic subsidiaries of the Company. Provisions of the indenture governing the Notes and the Credit Agreement contain restrictions on the Company’s ability to incur additional indebtedness, to create liens or other encumbrances, to make certain payments, investments, loans and guarantees and to sell or otherwise dispose of a substantial portion of assets or to merge or consolidate with an unaffiliated entity. At December 31, 2014, the Company was in compliance with all financial covenants of the Credit Agreement.

The weighted average interest rate on all debt was 5.62% at December 31, 2014 and 6.10% at December 31, 2013.

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income from continuing operations before income tax expense consists of the following:



	Year Ended December 31,
	2014		2013		2012
	(In millions)
United States	$	53.1	$	48.4	$	39.1
Outside the United States	18.7		11.9		15.4
	$	71.8	$	60.3	$	54.5

Income taxes consisted of the following:



	Year Ended December 31,
	2014			2013			2012
	(In millions)
Current expense:
Federal	$	17.4		$	16.0		$	7.5
State	0.8			1.5			0.8
Foreign	6.2			4.2			4.4
	24.4			21.7			12.7
Deferred expense (benefit):
Federal	1.0			1.2			7.5
State	(0.8		)	(2.6		)	(0.2		)
Foreign	0.3			(0.9		)	0.3
	0.5			(2.3		)	7.6
Income tax expense	$	24.9		$	19.4		$	20.3

The reasons for the difference between income tax expense and the amount computed by applying the statutory federal income tax rate to income from continuing operations before income taxes for the years ended December 31, 2014, 2013 and 2012 are as follows:



	Year Ended December 31,
Rate Reconciliation	2014			2013			2012
	(In millions)
Tax at statutory rate	$	25.1		$	21.1		$	19.3
Effect of state income taxes, net	1.4			1.1			0.9
Effect of foreign operations	(0.9		)	(0.2		)	(0.1		)
Valuation allowance	(1.1		)	(1.6		)	(0.2		)
Non-deductible items	1.8			0.7			0.6
Manufacturer's deduction	(1.4		)	(1.4		)	(0.6		)
Other, net	—			(0.3		)	0.4
Total	$	24.9		$	19.4		$	20.3

Significant components of the Company’s net deferred tax assets and liabilities are as follows:



	Year Ended December 31,
	2014			2013
	(In millions)
Deferred tax assets:
Postretirement benefit obligation	$	6.2		$	5.9
Inventory	13.7			13.2
Net operating loss and credit carryforwards	6.3			3.8
Goodwill	1.0			0.5
Warranty reserve	2.5			2.1
Compensation	6.0			4.3
Other	11.5			10.7
Total deferred tax assets	47.2			40.5
Deferred tax liabilities:
Depreciation and amortization	13.2			11.7
Pension	23.3			26.4
Goodwill	2.7			2.7
Intangible assets	14.5			15.4
Other	1.4			1.8
Total deferred tax liabilities	55.1			58.0
Net deferred tax liabilities prior to valuation allowances	(7.9		)	(17.5		)
Valuation allowances	(7.1		)	(2.6		)
Net deferred tax liability	$	(15.0	)	$	(20.1	)

At December 31, 2014, the Company has state and foreign net operating loss carryforwards for income tax purposes. The foreign net operating loss carryforward is $16.4 million, of which $1.9 million expires between 2015 and 2024 and the remainder has no expiration date. The Company also has a tax benefit from a state net operating loss carryforward of $2.9 million that expires between 2015 and 2033. The Company also has a foreign capital loss carryforward of $0.6 million that has no expiration date.

The Company is subject to taxation in the U.S. and various state and foreign jurisdictions. The Company’s tax years for 2011 through 2014 remain open for examination by the U.S. and various state and foreign taxing authorities.

As of December 31, 2014 and 2013, the Company was not in a cumulative three-year loss position and it was determined that it was more likely than not that its U.S. deferred tax assets will be realized. As of December 31, 2014, the Company reversed a valuation allowance of $1.3 million against its state net operating loss carryforward. As of December 31, 2014 and 2013, the Company recorded valuation allowances of $6.9 million and $1.2 million, respectively, against certain foreign net deferred tax assets. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income (including reversals of deferred tax liabilities). The Company reviews all valuation allowances related to deferred tax assets and will reverse these valuation allowances, partially or totally, when appropriate under ASC 740.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	2014			2013			2012
	(In millions)
Unrecognized Tax Benefit — January 1,	$	5.9		$	6.1		$	6.0
Gross Increases — Tax Positions in Prior Period	0.8			0.4			0.1
Gross Decreases — Tax Positions in Prior Period	(0.2		)	(0.6		)	—
Gross Increases — Tax Positions in Current Period	—			—			0.1
Lapse of Statute of Limitations	—			—			(0.1		)
Unrecognized Tax Benefit — December 31,	$	6.5		$	5.9		$	6.1

The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $5.4 million at December 31, 2014 and $4.7 million at December 31, 2013. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the year ended December 31, 2014 and 2013, the Company recognized approximately $0.3 million and $0.7 million, respectively, in net interest and penalties. The Company had approximately $1.7 million and $1.4 million for the payment of interest and penalties accrued at December 31, 2014 and 2013, respectively. The Company does not expect that the unrecognized tax benefit will change significantly within the next twelve months.

Deferred taxes have not been provided on approximately $90.2 million of undistributed earnings of the Company’s foreign subsidiaries as it is the Company’s policy and intent to permanently reinvest such earnings. The Company has determined that it is not practicable to determine the unrecognized tax liability on such undistributed earnings.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

A summary of stock option activity as of December 31, 2014 and changes during the year then ended is presented below:



	2014
	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
	(in whole shares)					(in millions)
Outstanding — beginning of year	146,000		$	16.71
Granted	—		—
Exercised	(2,500	)	14.12
Canceled or expired	—		—
Outstanding — end of year	143,500		$	16.76	1.7	$	6.6
Options exercisable	143,500		$	16.76	1.7	$	6.6

Exercise prices for options outstanding as of December 31, 2014 range from $14.12 to $15.61 and $20.00 to $24.92. The number of options outstanding and exercisable at December 31, 2014, which correspond with these ranges, are 108,500 and 35,000, respectively.

The total intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $0.1 million, $1.1 million and $0.8 million, respectively. Net cash proceeds from the exercise of stock options were $0.0 million, $0.4 million and $0.5 million, respectively.

In 2012, the Company awarded an employee the option to purchase up to an aggregate of $0.5 million of common stock at its then-current market value at a 20% discount and recognized compensation expense of $0.1 million.

There were no stock options awarded in 2014, 2013 and 2012.

A summary of restricted share and performance share activity for the year ended December 31, 2014 is as follows:



	2014
	Time-Based				Performance-Based
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
	(in whole shares)				(in whole shares)
Outstanding — beginning of year	422,898		$	21.04	42,000		$	20.30
Granted	137,750		57.04		—		—
Vested	(211,048	)	23.71		(14,000	)	20.30
Canceled or expired	(4,668	)	38.19		—		—
Outstanding — end of year	344,932		$	33.55	28,000		$	20.30

The Company recognized compensation expense of $5.8 million, $4.7 million and $2.7 million for the years ended December 31, 2014, 2013 and 2012, respectively, relating to restricted shares and performance shares.

The total fair value of restricted stock units vested during the years ended December 31, 2014, 2013 and 2012 was $11.5 million, $6.1 million and $4.6 million, respectively.

The Company recognizes compensation cost of all share-based awards as expense on a straight-line basis over the vesting period of the awards.

As of December 31, 2014, the Company had unrecognized compensation expense of $9.8 million, before taxes, related to stock option awards and restricted shares. The unrecognized compensation expense is expected to be recognized over a total weighted average period of 2.0 years.

The number of shares available for future grants for all plans at December 31, 2014 is 120,871.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Commitments, Contingencies and Litigation Judgment

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies and Litigation Judgment

The Company is subject to various pending and threatened legal proceedings arising in the ordinary course of business. Although the Company cannot precisely predict the amount of any liability that may ultimately arise with respect to any of these matters, the Company records provisions when it considers the liability probable and reasonably estimable. Our provisions are based on historical experience and legal advice, reviewed quarterly and adjusted according to developments. Estimating probable losses requires the analysis of multiple forecasted factors that often depend on judgments about potential actions by third parties, such as regulators, courts, and state and federal legislatures. Changes in the amounts of our loss provisions, which can be material, affect our financial condition. Due to the inherent uncertainties in the process undertaken to estimate potential losses, we are unable to estimate an additional range of loss in excess of our accruals. While it is reasonably possible that such excess liabilities, if they were to occur, could be material to operating results in any given quarter or year of their recognition, we do not believe that it is reasonably possible that such excess liabilities would have a material adverse effect on our long-term results of operations, liquidity or consolidated financial position.

Our subsidiaries are involved in a number of contractual and warranty related disputes. At this time, we cannot reasonably determine the probability of a loss, and the timing and amount of loss, if any, cannot be reasonably estimated. We believe that appropriate liabilities for these contingencies have been recorded; however, actual results may differ materially from our estimates.

IPSCO Tubulars Inc. d/b/a TMK IPSCO sued Ajax Tocco Magnethermic Corporation ("ATM"), a subsidiary of Park-Ohio Holdings Corporation, in the United States District Court for the Eastern District of Arkansas claiming that equipment supplied by ATM for heat treating certain steel pipe at IPSCO’s Blytheville, Arkansas facility did not perform as required by the contract. The complaint alleged causes of action for breach of contract, gross negligence, and constructive fraud. IPSCO sought approximately $10 million in damages plus an unspecified amount of punitive damages. ATM denied the allegations. ATM subsequently obtained summary judgment on the constructive fraud claim, which was dismissed by the district court prior to trial. The remaining claims were the subject of a bench trial that occurred in May 2013. After IPSCO presented its case, the district court entered partial judgment in favor of ATM, dismissing the gross negligence claim, a portion of the breach of contract claim, and any claim for punitive damages. The trial proceeded with respect to the remainder of IPSCO’s claim for breach of contract. In September 2013, the district court issued a judgment in favor of IPSCO in the amount of $5.2 million. IPSCO subsequently filed a motion seeking to recover $3.8 million in attorneys’ fees and costs. The district court reserved ruling on that issue pending an appeal. In October 2013, ATM filed an appeal with the U.S. Court of Appeals for the Eighth Circuit seeking reversal of the judgment in favor of IPSCO. In November 2013, IPSCO filed a cross-appeal seeking reversal of the dismissal of its claims for gross negligence and punitive damages. The Eighth Circuit issued an opinion in March 2015 affirming in part, reversing in part, and remanding the case. It affirmed the district court's determination that ATM was liable for breach of contract. It also affirmed the district court's dismissal of IPSCO's claims for gross negligence and punitive damages. However, the Eighth Circuit reversed nearly all of the damages awarded by the district court and remanded for further findings on the issue of damages, including whether consequential damages are barred under the express language of the contract. Because IPSCO did not appeal the award of $5.2 million in its favor, those damages may be decreased, but cannot be increased, on remand. Because IPSCO did not appeal the award of $5.2 million in its favor, those damages may be decreased, but cannot be increased, on remand. IPSCO's motion to recover attorneys' fees and costs is stayed pending the outcome of the proceedings on remand.

In August 2013, the Company received a subpoena from the staff of the SEC in connection with the staff’s investigation of a third party. At that time, the Company also learned that the Department of Justice (“DOJ”) is conducting a criminal investigation of the third party. In connection with its initial response to the staff’s subpoena, the Company disclosed to the staff of the SEC that, in November 2007, the third party participated in a payment on behalf of the Company to a foreign tax official that implicates the Foreign Corrupt Practices Act (“FCPA”).

The Board of Directors of the Company has formed a special committee to review the Company’s transactions with the third party and to make any recommendations to the Board of Directors with respect thereto.

The Company intends to cooperate fully with the SEC and the DOJ in connection with their investigations of the third party and with the SEC in light of the Company’s disclosure. The Company is unable to predict the outcome or impact of the special committee’s investigation or the length, scope or results of the SEC’s review or the impact on its results of operations.

Leases

Future minimum lease commitments during each of the five years following December 31, 2014 and thereafter are as follows:



	(In millions)
2015	$	14.8
2016	$	12.7
2017	$	9.9
2018	$	6.1
2019	$	2.9
Thereafter	$	2.3

Rental expense for 2014, 2013 and 2012 was $18.6 million, $17.6 million and $15.8 million, respectively.

Certain of the Company’s leases are with related parties at an annual rental expense of approximately $2.3 million. Transactions with related parties are in the ordinary course of business and are not material to the Company’s financial position, results of operations or cash flows.

During the years ended December 31, 2013 and 2012, we entered into sales leaseback transactions for certain equipment. No gains or losses resulted from these transactions and the leases are being accounted for as operating leases.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Pensions and Postretirement Benefits

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Pensions and Postretirement Benefits

The Company and its subsidiaries have pension plans, principally noncontributory defined benefit or noncontributory defined contribution plans, covering substantially all employees. In addition, the Company has an unfunded postretirement benefit plan. In April 2011, the Company amended one of its plans to cover most U.S. employees not covered by collective bargaining agreements using a cash balance formula, which increased the 2011 benefit obligation by approximately $1.1 million. Under a cash balance formula, a plan participant accumulates a retirement benefit consisting of pay credits that are based upon a percentage of current eligible earnings and current interest credits. For the remaining defined benefit plans, benefits are based on the employee’s years of service. For the defined contribution plans, the costs charged to operations and the amount funded are based upon a percentage of the covered employees’ compensation.

The following tables set forth the change in benefit obligation, plan assets, funded status and amounts recognized in the consolidated balance sheet for the defined benefit pension and postretirement benefit plans as of December 31, 2014 and 2013:



	Pension Benefits						Postretirement Benefits
	2014			2013			2014			2013
	(In millions)
Change in benefit obligation
Benefit obligation at beginning of year	$	52.1		$	56.4		$	16.2		$	18.5
Service cost	2.2			2.6			—			0.1
Interest cost	2.2			2.0			0.6			0.6
Actuarial (gains) losses	8.8			(4.4		)	1.9			(1.3		)
Plan amendment	0.4			—			—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.5		)	(1.7		)	(1.7		)
Benefit obligation at end of year	$	61.1		$	52.1		$	17.0		$	16.2
Change in plan assets
Fair value of plan assets at beginning of year	$	125.4		$	109.4		$	—		$	—
Actual return on plan assets	5.8			21.8			—			—
Company contributions	—			—			1.7			1.7
Cash transfer to fund postretirement benefit payments	(0.9		)	(1.3		)	—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.5		)	(1.7		)	(1.7		)
Fair value of plan assets at end of year	$	125.7		$	125.4		$	—		$	—
Funded (underfunded) status of the plans	$	64.6		$	73.3		$	(17.0	)	$	(16.2	)

Amounts recognized in the consolidated balance sheets consist of:



	Pension Benefits				Postretirement Benefits
	2014		2013		2014			2013
	(In millions)
Noncurrent assets	$	64.6	$	73.3	$	—		$	—
Noncurrent liabilities	—		—		15.4			14.5
Current liabilities	—		—		1.6			1.7
	$	64.6	$	73.3	$	17.0		$	16.2
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	15.3	$	2.1	$	7.6		$	6.3
Net prior service cost (credit)	0.4		0.1		(0.4		)	(0.5		)
Accumulated other comprehensive loss	$	15.7	$	2.2	$	7.2		$	5.8

As of December 31, 2014 and 2013, the Company’s defined benefit pension plans did not hold a material amount of shares of the Company’s common stock.

The pension plan weighted-average asset allocation at December 31, 2014 and 2013 and target allocation for 2015 are as follows:



		Plan Assets
	Target 2015	2014		2013
Asset Category
Equity securities	45-75%	64.6	%	67.2	%
Debt securities	10-40	27.9	%	25.4	%
Other	0-20	7.5	%	7.4	%
	100%	100	%	100	%

The following table sets forth, by level within the fair value hierarchy, the pension plans assets:



	2014								2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In millions)
Collective trust and pooled insurance funds:
Common stock	$	45.6	$	2.2	$	—	$	47.8	$	48.3	$	2.5	$	—	$	50.8
Equity Funds	26.9		—		—		26.9		26.9		—		—		26.9
Foreign Stock	5.4		—		—		5.4		5.6		—		—		5.6
U.S. Government obligations	7.0		—		—		7.0		5.1		—		—		5.1
Fixed income funds	19.6		—		—		19.6		18.8		—		—		18.8
Balanced funds	2.1		—		—		2.1		2.1		—		—		2.1
Corporate Bonds	7.5		—		—		7.5		6.8		—		—		6.8
Cash and Cash Equivalents	1.8		—		—		1.8		2.0		—		—		2.0
Hedge funds	—		—		7.6		7.6		—		—		7.3		7.3
	$	115.9	$	2.2	$	7.6	$	125.7	$	115.6	$	2.5	$	7.3	$	125.4

The following table presents a reconciliation of Level 3 assets, as defined in Note 1, held during the years ended December 31, 2014 and 2013.



	Balance at Beginning of Year		Net Unrealized Gain		Purchases		Balance at End of Year
	(In millions)
Hedge Funds:
2014	$	7.3	$	0.3	$	—	$	7.6
2013	$	6.4	$	0.9	$	—	$	7.3

The following tables summarize the assumptions used in the valuation of pension and postretirement benefit obligations at December 31, and to measure the net periodic benefit cost in the following year.



	Weighted-Average assumptions as of December 31,
	Pension Benefits						Postretirement Benefits
	2014		2013		2012		2014		2013		2012
Discount rate	3.82	%	4.51	%	3.66	%	3.60	%	4.21	%	3.35	%
Expected return on plan assets	8.25	%	8.25	%	8.25	%	N/A		N/A		N/A
Rate of compensation increase	3.00	%	2.00	%	2.00	%	N/A		N/A		N/A
Medical health care benefits rate increase	N/A		N/A		N/A		7.00	%	6.50	%	7.00	%
Medical drug benefits rate increase	N/A		N/A		N/A		7.00	%	6.50	%	7.25	%
Ultimate health care cost trend rate	N/A		N/A		N/A		5.00	%	5.00	%	5.00	%
Year of ultimate trend rate	N/A		N/A		N/A		2022		2042		2042

In determining its expected return on plan assets assumption for the year ended December 31, 2014, the Company considered historical experience, its asset allocation, expected future long-term rates of return for each major asset class, and an assumed long-term inflation rate. Based on these factors, the Company derived an expected return on plan assets for the year ended December 31, 2014 of 8.25%. This assumption was supported by the asset return generation model, which projected future asset returns using simulation and asset class correlation.



	Pension Benefits									Postretirement Benefits
	2014			2013			2012			2014			2013			2012
	(In millions)
Components of net periodic benefit cost
Service costs	$	2.2		$	2.6		$	2.2		$	—		$	0.1		$	—
Interest costs	2.2			2.0			2.2			0.6			0.6			0.8
Expected return on plan assets	(10.1		)	(8.9		)	(8.2		)	—			—			—
Amortization of prior service cost (credit)	0.1			—			—			(0.1		)	(0.1		)	(0.1		)
Recognized net actuarial loss	—			0.8			0.9			0.5			0.7			0.7
Benefit (income) costs	$	(5.6	)	$	(3.5	)	$	(2.9	)	$	1.0		$	1.3		$	1.4
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	$	2.2		$	20.3		$	22.4		$	5.8		$	7.6		$	7.1
Net (gain) loss arising during the year	13.1			(17.3		)	(1.2		)	1.8			(1.2		)	1.1
Recognition of prior service credit	—			—			—			0.1			0.1			0.1
Recognition of actuarial loss	0.4			(0.8		)	(0.9		)	(0.5		)	(0.7		)	(0.7		)
Total recognized in accumulated other comprehensive loss at end of year	$	15.7		$	2.2		$	20.3		$	7.2		$	5.8		$	7.6

The estimated net loss, prior service cost and net transition obligation for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the year ending December 31, 2015 are immaterial.

The estimated net loss and prior service cost for the postretirement plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the year ending December 31, 2015 is $0.2 million and $0.6 million, respectively.

Below is a table summarizing the Company’s expected future benefit payments and the expected payments due to Medicare subsidy over the next ten years:



			Postretirement Benefits
	Pension Benefits		Gross		Expected Medicare Subsidy		Net including Medicare Subsidy
	(In millions)
2015	$	4.3	$	1.7	$	0.1	$	1.6
2016	4.2		1.6		0.1		1.5
2017	4.3		1.6		0.1		1.5
2018	4.3		1.5		0.1		1.4
2019	4.3		1.4		0.1		1.3
2020 to 2024	23.1		6.0		0.5		5.5

The Company has a postretirement benefit plan. Under the plan, health care benefits are provided on both a contributory and noncontributory basis. The assumed health care cost trend rate has a significant effect on the amounts reported. A one-percentage-point change in the assumed health care cost trend rate would have the following effects:



	1-Percentage Point Increase		1-Percentage Point Decrease
	(In millions)
Effect on total of service and interest cost components in 2014	$	0.1	$	—
Effect on postretirement benefit obligation as of December 31, 2014	$	1.5	$	(1.3	)

The Company expects to have no contributions to its defined benefit plans in 2015.

In January 2008, a Supplemental Executive Retirement Plan (“SERP”) for the Company’s Chairman of the Board of Directors and Chief Executive Officer (“CEO”) was approved by the Compensation Committee of the Board of Directors of the Company. The SERP provides an annual supplemental retirement benefit for up to $0.4 million upon the CEO’s termination of employment with the Company. The vested retirement benefit will be equal to a percentage of the Supplemental Pension that is equal to the ratio of the sum of his credited service with the Company prior to January 1, 2008 (up to a maximum of thirteen years), and his credited service on or after January 1, 2008 (up to a maximum of seven years) to twenty years of credited service. In the event of a change in control before the CEO’s termination of employment, he will receive 100% of the Supplemental Pension. The Company recorded an expense of $0.5 million in 2014, 2013 and 2012 related to the SERP. Additionally, a non-qualified defined contribution retirement benefit was also approved in which the Company will credit $0.1 million quarterly ($0.4 million annually) for a seven-year period to an account in which the CEO will always be 100% vested. The seven year period began on March 31, 2008.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References+ Details

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

The components of and changes in accumulated other comprehensive income (loss) for the years ended December 31, 2014, 2013, and 2012 were as follows:



	Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
	(In millions)
Balance at January 1, 2012	$	4.8		$	(13.2	)	$	(8.4	)
Foreign currency translation adjustments (a)	0.6			—			0.6
Recognition of actuarial gain (b)	—			1.6			1.6
Tax adjustment (c)	—			(0.6		)	(0.6		)
Recognition of actuarial gain, net	—			1.0			1.0
Balance at December 31, 2012	5.4			(12.2		)	(6.8		)
Foreign currency translation adjustments (a)	(2.6		)	—			(2.6		)
Recognition of actuarial gain, net (b)	—			19.9			19.9
Tax adjustment (c)	—			(7.1		)	(7.1		)
Recognition of actuarial gain, net	—			12.8			12.8
Balance at December 31, 2013	2.8			0.6			3.4
Foreign currency translation adjustments (a)	(7.9		)	—			(7.9		)
Recognition of actuarial gain, net (b)	—			(14.9		)	(14.9		)
Tax adjustment (c)	—			5.4			5.4
Recognition of actuarial gain, net	—			(9.5		)	(9.5		)
Balance at December 31, 2014	$	(5.1	)	$	(8.9	)	$	(14.0	)


(a)	No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently invested.


(b)	The recognition of actuarial gains are reclassified out of accumulated other comprehensive income and included in the computation of net periodic benefit cost in selling, general and administrative expenses.


(c)	The tax adjustments are reclassified out of accumulated other comprehensive income and included in income tax expense.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 17

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Reclassification Adjustments

-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 9, 2015, the Company's Board of Directors declared a quarterly dividend of $0.125 per common share. The dividend was paid on March 6, 2015, to shareholders of record as of the close of business on February 23, 2015 and resulted in a cash outlay of approximately $1.6 million. On March 12, 2015, the Company amended its Credit Agreement to increase the revolving credit facility from $250.0 million to $275.0 million.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)



	Quarter Ended
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,
	(Dollars in millions, except per share data)
2014
Net sales	$	317.8		$	343.3		$	344.6		$	373.0
Gross profit	56.0			61.0			60.6			56.9
Net income from continuing operations	10.3			12.9			12.5			11.2
Net income attributable to noncontrolling interest	(0.2		)	(0.5		)	(0.1		)	(0.5		)
Net income attributable to ParkOhio common shareholders	$	10.1		$	12.4		$	12.4		$	10.7
Earnings (loss) per common share attributable to ParkOhio common shareholders - Basic:
Continuing operations	$	0.84		$	1.02		$	1.02		$	0.89
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Continuing operations	$	0.82		$	1.00		$	1.00		$	0.87
Cash dividends per common share	$	—		$	0.125		$	0.125		$	0.125
2013
Net sales	$	283.0		$	307.3		$	303.5		$	309.4
Gross profit	51.6			57.5			54.6			47.3
Net income from continuing operations	10.7			12.1			8.7			9.4
(Loss) Income from discontinued operations, net of taxes	(0.4		)	(0.1		)	3.7			(0.2		)
Net income attributable to noncontrolling interest	—			—			(0.2		)	(0.3		)
Net income attributable to ParkOhio common shareholders	$	10.3		$	12.0		$	12.2		$	8.9
Earnings (loss) per common share attributable to ParkOhio common shareholders - Basic:
Continuing operations	$	0.90		$	1.02		$	0.71		$	0.76
Discontinued operations	(0.03		)	(0.01		)	0.31			(0.02		)
Total	$	0.87		$	1.01		$	1.02		$	0.74
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Continuing operations	$	0.88		$	0.99		$	0.69		$	0.76
Discontinued operations	(0.03		)	(0.01		)	0.30			(0.02		)
Total	$	0.85		$	0.98		$	0.99		$	0.74


Note A —	On June 10, 2014, the Company completed the acquisition of Apollo, a supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide and is included in our Supply Technologies segment.


Note B —	On October 10, 2014, the Company completed the acquisition of Autoform, a supplier of high end pressure fuel lines used in gasoline direct injection systems across a large number of engine platforms and is included in our Assembly Components segment.


Note C —	On December 4, 2014, the Company completed the acquisition of Saet, a leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions. Saet is included in our Engineered Products segment.


Note D —	In the second quarter of 2013, the Company completed the acquisition of substantially all of the assets of Bates, a manufacturer of extruded, formed and molded products and is included in our Assembly Components segment.


Note E —	Effective August 1, 2013, the Company sold a 25% interest in its Southwest Steel Processing business.


Note F —	On September 3, 2013, the Company sold all of the outstanding equity interests of a non-core business unit in the Supply Technologies segment for $8.5 million in cash. The results of this business unit are reported as discontinued operations and prior periods are adjusted to reflect the discontinued operation.


Note G —	In September 2013, the Company recorded a $5.2 million pre-tax litigation judgment.


Note H —	During the fourth quarter of 2013, the Company acquired the outstanding capital stock of Henry Halstead and QEF. Both companies are providers of supply chain management solutions.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2014

Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts and Reserves

Schedule II

PARK-OHIO HOLDINGS CORP.

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES



Description	Balance at Beginning of Period		Charged to Costs and Expenses			Deductions and Other				Balance at End of Period
	(In millions)
Year Ended December 31, 2014:
Allowances deducted from assets:
Trade receivable allowances	$	3.7	$	0.3		$	0.1		(A)	$	4.1
Inventory obsolescence reserve	28.4		8.4			(6.9		)	(B)	29.9
Tax valuation allowances	2.6		(1.1		)	5.6			(C)	7.1
Year Ended December 31, 2013:
Allowances deducted from assets:
Trade receivable allowances	$	3.5	$	1.8		$	(1.6	)	(A)	$	3.7
Inventory obsolescence reserve	27.2		9.4			(8.2		)	(B)	28.4
Tax valuation allowances	4.2		(1.6		)	—				2.6
Year Ended December 31, 2012:
Allowances deducted from assets:
Trade receivable allowances	$	5.5	$	1.8		$	(3.8	)	(A)	$	3.5
Inventory obsolescence reserve	24.9		11.6			(9.3		)	(B)	27.2
Tax valuation allowances	4.4		(0.2		)	—				4.2

Note (A)- Uncollectable accounts written off, net of recoveries.

Note (B)- Amounts written off or payments incurred, net of acquired reserves.

Note (C)- Amounts accounted for under the acquisition method of accounting.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2014
Accounting Policies [Abstract]
Consolidation and Basis of Presentation	Consolidation and Basis of Presentation: The consolidated financial statements include the accounts of the Company and all of its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. The Company does not have off-balance sheet arrangements or financings with unconsolidated entities or other persons. In the ordinary course of business, the Company leases certain real properties owned by related parties as described in Note 12. Transactions with related parties are in the ordinary course of business and are not material to the Company’s financial position, results of operations or cash flows. In December 2014, the Company purchased real estate owned by a company owned by the Chairman and Chief Executive Officer of the Company for cash of $1.8 million. The transaction is included in the capital expenditures of the cash flow statement.
Accounting Estimates	Accounting Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash Equivalents	Cash Equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Inventories	Inventories: Inventories are stated at the lower of first-in, first-out (“FIFO”) cost or market value.
Property, Plant and Equipment	Property, Plant and Equipment: Property, plant and equipment are carried at cost. Additions and associated interest costs are capitalized and expenditures for repairs and maintenance are charged to operations. Depreciation of fixed assets is computed principally by the straight-line method based on the estimated useful lives of the assets ranging from five to 50 years for buildings, and one to 20 years for machinery and equipment.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets: We assess the recoverability of long-lived assets (excluding goodwill) and identifiable acquired intangible assets with finite useful lives, whenever events or changes in circumstances indicate that we may not be able to recover the assets’ carrying amount. We measure the recoverability of assets to be held and used by a comparison of the carrying amount of the asset to the expected net future undiscounted cash flows to be generated by that asset, or, for identifiable intangibles with finite useful lives, by determining whether the amortization of the intangible asset balance over its remaining life can be recovered through undiscounted future cash flows. The amount of impairment of identifiable intangible assets with finite useful lives, if any, to be recognized is measured based on projected discounted future cash flows. We measure the amount of impairment of other long-lived assets (excluding goodwill) as the amount by which the carrying value of the asset exceeds the fair market value of the asset, which is generally determined, based on projected discounted future cash flows or appraised values. We classify long-lived assets to be disposed of other than by sale as held and used until they are disposed.
Goodwill and Indefinite-Lived Assets	Goodwill and Indefinite-Lived Assets: In accordance with Accounting Standards Codification (“ASC”) 350, “Intangibles — Goodwill and Other” (“ASC 350”), the Company does not amortize goodwill or indefinite-lived intangible assets recorded in connection with business acquisitions. Goodwill and indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be a possible permanent loss of value in accordance with ASC 350. Goodwill is tested for impairment at the reporting unit level and is based on the net assets for each reporting unit, including goodwill and intangible assets, compared to the fair value. In accordance with Accounting Standard Update (“ASU”) 2011-08, an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step quantitative impairment test is unnecessary. In assessing the qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we identify and assess relevant drivers of fair value and events and circumstances that may impact the fair value and the carrying amount of the reporting unit. The identification of relevant events and circumstances and how these may impact a reporting unit’s fair value or carrying amount involve significant judgments and assumptions. The judgments and assumptions include the identification of macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, Company-specific events and share price trends, and the assessment of whether each relevant factor will impact the impairment test positively or negatively and the magnitude of any such impact. If our qualitative assessment concludes that it is more likely than not that impairment exists then a quantitative assessment is required. In a quantitative assessment, we use an income approach and other valuation techniques to estimate the fair value of our reporting units. Absent an indication of fair value from a potential buyer or similar specific transactions, we believe that using this methodology provides reasonable estimates of a reporting unit’s fair value. The income approach is based on projected future debt-free cash flow that is discounted to present value using factors that consider the timing and risk of the future cash flows. We believe that this approach is appropriate because it provides a fair value estimate based upon the reporting unit’s expected long-term operating and cash flow performance. This approach also mitigates most of the impact of cyclical downturns that occur in the reporting unit’s industry. The income approach is based on a reporting unit’s projection of operating results and cash flows that is discounted using a weighted-average cost of capital. The projection is based upon our best estimates of projected economic and market conditions over the related period including growth rates, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements based on management projections. There are inherent uncertainties, however, related to these factors and to our judgment in applying them to this analysis. Nonetheless, we believe that this method provides a reasonable approach to estimate the fair value of our reporting units. The Company completed its annual goodwill impairment test for each year presented and confirmed no reporting unit was at risk of failing the impairment test for any periods presented herein. Indefinite life intangible assets are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be a possible permanent loss of value in accordance with ASC 350. In accordance with ASU 2011-08, an entity may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible is less than its carrying value. The Company completed its annual indefinite-lived intangible impairment assessment. As a result of this analysis, we concluded that no impairment existed.
Fair Values of Financial Instruments	Fair Values of Financial Instruments: Certain financial instruments are required to be recorded at fair value. The Company measures financial assets and liabilities at fair value in three levels of inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and borrowings under the Credit Agreement (as defined in Note 9) approximate fair value at December 31, 2014 and December 31, 2013. The fair values of long-term debt and pension plan assets are disclosed in Note 9 and Note 13, respectively. The Company has not changed its valuation techniques for measuring fair value during 2014, and there were no transfers between levels during the periods presented.
Income Taxes	Income Taxes: The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and the tax bases of assets and liabilities and are measured using the current enacted tax rates. In determining these amounts, management determined the probability of realizing deferred tax assets, taking into consideration factors including historical operating results, cumulative earnings and losses, expectations of future earnings, taxable income and the extended period of time over which the postretirement benefits will be paid and accordingly records valuation allowances if, based on the weight of available evidence, it is more likely than not that some portion or all of our deferred tax assets will not be realized as required by ASC 740, “Income Taxes” (“ASC 740”).
Stock-Based Compensation	Stock-Based Compensation: The Company follows the provisions of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values. Compensation expense for awards with service conditions only that are subject to graded vesting is recognized on a straight-line basis over the term of the vesting period. Under the provisions of the Company’s 1998 Long-Term Incentive Plan, as amended (“1998 Plan”), which is administered by the Compensation Committee of the Company’s Board of Directors, incentive stock options, non-statutory stock options, stock appreciation rights (“SARs”), restricted share units, performance shares or stock awards may be awarded to directors and all employees of the Company and its subsidiaries. Stock options will be exercisable in whole or in installments as may be determined provided that no options will be exercisable more than ten years from date of grant. The exercise price will be the fair market value at the date of grant. The aggregate number of shares of the Company’s common stock that may be awarded under the 1998 Plan is 3,700,000, all of which may be incentive stock options. No more than 500,000 shares shall be the subject of awards to any individual participant in any one calendar year.
Revenue Recognition	Revenue Recognition: The Company recognizes revenue, other than from long-term contracts, when title is transferred to the customer, typically upon shipment. Revenue from long-term contracts (approximately 8% of consolidated revenue) is accounted for under the percentage of completion method, and recognized on the basis of the percentage each contract’s cost to date bears to the total estimated contract cost. Revenue earned on contracts in process that are in excess of billings, is classified in unbilled contract revenues in the accompanying consolidated balance sheets. Billings that are in excess of revenues earned on contracts in process are classified in accrued expenses in the accompanying balance sheets.
Cost of Sales	Cost of Sales: Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of sales also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity.
Shipping and Handling Costs	Shipping and Handling Costs: All shipping and handling costs are included in cost of sales in the Consolidated Statements of Income.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are recorded at net realizable value. Accounts receivable are reduced by an allowance for amounts that may become uncollectable in the future. The Company’s policy is to identify and reserve for specific collectability concerns based on customers’ financial condition and payment history. During 2014 and 2013, we sold approximately $95.0 million and $75.4 million, respectively, of accounts receivable to mitigate accounts receivable concentration risk and to provide additional financing capacity. In compliance with ASC 860, “Transfers and Servicing”, sales of accounts receivable are reflected as a reduction of accounts receivable in the Consolidated Balance Sheets and the proceeds are included in the cash flows from operating activities in the Consolidated Statements of Cash flows. In 2014 and 2013, an expense in the amount of $0.5 million and $0.4 million, respectively, related to the discount on sale of accounts receivable is recorded in the Consolidated Statements of Income.
Concentration of Credit Risk	Concentration of Credit Risk: The Company sells its products to customers in diversified industries. The Company performs ongoing credit evaluations of its customers’ financial condition but does not require collateral to support customer receivables. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. As of December 31, 2014, the Company had uncollateralized receivables with six customers in the automotive industry, each with several locations, aggregating $37.7 million, which represented approximately 18% of the Company’s trade accounts receivable. During 2014, sales to these customers amounted to approximately $252.6 million, which represented approximately 18% of the Company’s net sales.
Environmental	Environmental: The Company accrues environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Costs that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. The Company records a liability when environmental assessments and/or remedial efforts are probable and can be reasonably estimated. The estimated liability of the Company is not reduced for possible recoveries from insurance carriers.
Legal Contingencies	Legal Contingencies: We are involved in a variety of claims, suits, investigations and administrative proceedings with respect to commercial, premises liability, product liability, employment and environmental matters arising from the ordinary course of business. We accrue reserves for legal contingencies, on an undiscounted basis, when it is probable that we have incurred a liability and we can reasonably estimate an amount. When a single amount cannot be reasonably estimated, but the cost can be estimated within a range, we accrue the minimum amount in the range. Based upon facts and information currently available, we believe the amounts reserved are adequate for such pending matters. We monitor the development of legal proceedings on a regular basis and will adjust our reserves when, and to the extent, additional information becomes available.
Foreign Currency Translation	Foreign Currency Translation: The functional currency for a majority of subsidiaries outside the United States is the local currency. Financial statements for these subsidiaries are translated into U.S. dollars at year-end exchange rates for assets and liabilities and weighted-average exchange rates for revenues and expenses. The resulting translation adjustments are recorded in accumulated comprehensive income (loss) in shareholders’ equity.
Earnings Per Share	Earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average basic shares outstanding. Diluted earnings from continuing operations per common share is computed as net income from continuing operations less net income attributable to noncontrolling interests divided by the weighted average diluted shares outstanding. Earnings (loss) from discontinued operations per common share is computed as income (loss) from discontinued operations, net of taxes divided by the weighted average basic shares outstanding. Diluted earnings (loss) from discontinued operations per common share is computed as income (loss) from discontinued operations, net of taxes divided by the weighted average diluted shares outstanding. Total basic earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average basic shares outstanding. Total diluted earnings per common share is computed as net income attributable to Park-Ohio common shareholders divided by the weighted average diluted shares outstanding. Outstanding stock options with exercise prices greater than the average price of the common shares are anti-dilutive and are not included in the computation of diluted earnings per share. For the year ended December 31, 2014 and 2013, the anti-dilutive shares were insignificant.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which raises the threshold for disposals to qualify as discontinued operations and requires new disclosures for discontinued operations and for individually material disposal transactions that do not meet the definition of a discontinued operation. The ASU is effective prospectively for reporting periods beginning with the first quarter of 2015. Early adoption is permitted for disposals that have not been previously reported in the financial statements. We believe the adoption of this ASU will have an insignificant effect on our consolidated financial statement as it only applies to future disposals. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was the result of a joint project by the FASB and International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. generally accepted accounting principles and International Financial Reporting Standards. The issuance of a comprehensive and converged standard on revenue recognition is expected to enable financial statement users to better understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The ASU will require additional disclosures to help financial statement users better understand the nature, amount, timing, and potential uncertainty of the revenue that is recognized. The ASU is effective for annual reporting periods beginning after December 15, 2016, and will require either retrospective application to each prior reporting period presented or retrospective application with the cumulative effect of initially applying the standard recognized at the date of adoption. The Company is currently evaluating the impact of adopting this guidance.
Reclassification	Reclassification: Certain amounts in the prior years' financial statements have been reclassified to conform to the current year presentation.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Major Classes of Inventories

Inventories are stated at the lower of first-in, first-out (“FIFO”) cost or market value.



Major Classes of Inventories	December 31, 2014		December 31, 2013
	(In millions)
Finished goods	$	146.0	$	124.1
Work in process	19.8		36.0
Raw materials and supplies	72.6		61.3
Inventories, net	$	238.4	$	221.4

Other inventory items
Inventory reserves	$	29.9	$	28.4
Consigned Inventory	$	7.8	$	6.6

Property, Plant and Equipment

The following table summarizes property, plant and equipment at December 31, 2014 and December 31, 2013:



	December 31, 2014		December 31, 2013
Property, plant and equipment:
Land and land improvements	$	7.1	$	6.5
Buildings	68.4		58.2
Machinery and equipment	293.5		261.5
Total property, plant and equipment	369.0		326.2
Less accumulated depreciation	227.9		210.8
Net property, plant and equipment	$	141.1	$	115.4

Weighted-Average Number of Shares Used in Computing Earnings Per Share

The following table sets forth the weighted-average number of shares used in the computation of earnings per share:



	Year Ended December 31,
	2014	2013	2012
	(In whole shares)
Weighted average basic shares outstanding	12,097,018	11,936,772	11,920,593
Plus dilutive impact of employee stock awards	279,058	295,393	195,836
Weighted average diluted shares outstanding	12,376,076	12,232,165	12,116,429

Segments (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Results by business segment

Results by business segment were as follows:



	Year Ended December 31,
	2014			2013			2012
	(In millions)
Net sales:
Supply Technologies	$	559.6		$	471.9		$	483.8
Assembly Components	490.5			412.8			304.0
Engineered Products	328.6			318.5			340.4
	$	1,378.7		$	1,203.2		$	1,128.2
Segment operating income:
Supply Technologies	$	42.5		$	35.0		$	37.5
Assembly Components	42.0			31.8			19.9
Engineered Products	42.7			47.1			55.0
Total segment operating income	127.2			113.9			112.4
Corporate costs	(29.3		)	(23.1		)	(18.9		)
Litigation judgment and settlement costs	—			(5.2		)	(13.0		)
Gain on acquisition of business	—			0.6			—
Interest expense	(26.1		)	(25.9		)	(26.0		)
Income from continuing operations before income taxes	$	71.8		$	60.3		$	54.5



	Year Ended December 31,
	2014		2013		2012
	(In millions)
Identifiable assets:
Supply Technologies	$	277.6	$	241.7	$	207.0
Assembly Components	340.5		276.7		230.0
Engineered Products	246.9		183.1		199.4
General corporate	109.2		117.2		90.2
	$	974.2	$	818.7	$	726.6
Depreciation and amortization expense:
Supply Technologies	$	4.5	$	3.0	$	3.9
Assembly Components	14.2		11.6		9.5
Engineered Products	3.3		3.4		3.2
General corporate	1.2		1.2		1.4
	$	23.2	$	19.2	$	18.0
Capital expenditures:
Supply Technologies	$	5.8	$	3.8	$	1.6
Assembly Components	14.0		21.5		22.1
Engineered Products	2.4		3.6		3.1
General corporate	1.5		1.2		2.8
	$	23.7	$	30.1	$	29.6

Percentage of net sales by product line

The percentage of net sales by product line included in each segment was as follows:



	Year Ended December 31,
	2014		2013		2012
Supply Technologies:
Supply Technologies	88	%	87	%	88	%
Engineered specialty products	12	%	13	%	12	%
	100	%	100	%	100	%
Assembly Components:
Fluid routing	49	%	54	%	50	%
Aluminum products	43	%	37	%	39	%
Rubber and plastics	6	%	7	%	9	%
Screw products	2	%	2	%	2	%
	100	%	100	%	100	%
Engineered Products:
Industrial equipment business	78	%	77	%	80	%
Forged and machined products	22	%	23	%	20	%
	100	%	100	%	100	%

Approximate percentage of net sales by geographic region

The Company’s approximate percentage of net sales by geographic region was as follows:



	Year Ended December 31,
	2014		2013		2012
United States	74	%	74	%	77	%
Canada	7	%	8	%	8	%
Europe	6	%	5	%	4	%
Asia	6	%	6	%	6	%
Mexico	5	%	5	%	4	%
Other	2	%	2	%	1	%
	100	%	100	%	100	%

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Allocation of purchase price

Based on management’s valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions, the final purchase price is allocated as follows:



	(In millions)
Cash and cash equivalents	$	2.8
Accounts receivable	30.9
Inventories	12.4
Prepaid expenses and other current assets	2.7
Property, plant and equipment	30.2
Customer relationships	29.4
Trademarks and trade name	11.5
Other assets	0.2
Accounts payable	(17.8		)
Accrued expenses	(15.6		)
Deferred tax liability	(26.4		)
Other long-term liabilities	(0.8		)
Goodwill	39.3
Total purchase price	$	98.8

Pro forma information



	Year Ended December 31,
	2012
	(In millions)
Pro forma revenues	$	1,179.1
Pro forma net income	$	39.1

Dispositions (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Select Financial Information Included in Discontinued Operations

Select financial information included in discontinued operations were as follows:



	Year Ended December 31,
	2013			2012

Net sales	$	5.2		$	5.8

Loss from discontinued operations before tax	$	(1.3	)	$	(4.0	)
Income tax benefit from operations	0.5			1.6
Net loss from discontinued operations	(0.8		)	(2.4		)

Gain on sale of business before tax	5.3			—
Income tax expense from gain on sale of business	(1.5		)	—
Net gain on sale of business	3.8			—
Income (loss) from discontinued operations, net of taxes	$	3.0		$	(2.4	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

Goodwill (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2014, 2013, and 2012 were as follows:



	Supply Technologies		Assembly Components		Engineered Products			Total
	(In millions)
Balance at January 1, 2012	$	—	$	4.6	$	4.9		$	9.5
Acquisitions	—		40.2		—			40.2
Balance at December 31, 2012	—		44.8		4.9			49.7
Acquisitions	6.2		4.2		—			10.4
Foreign currency translation	0.2		—		0.1			0.3
Balance at December 31, 2013	6.4		49.0		5.0			60.4
Acquisitions	0.7		5.0		23.2			28.9
Foreign currency translation	0.5		—		(0.3		)	0.2
Balance at December 31, 2014	$	7.6	$	54.0	$	27.9		$	89.5

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of finite-lived intangible assets

Information regarding other intangible assets as of December 31, 2014 and December 31, 2013 follows:



	December 31, 2014							December 31, 2013
	Weighted Average Useful Life (Years)	Acquisition Costs		Accumulated Amortization		Net		Acquisition Costs		Accumulated Amortization		Net
		(In millions)
Non-contractual customer relationships	11.9	$	77.3	$	13.2	$	64.1	$	61.1	$	8.7	$	52.4
Indefinite-lived tradenames	*	14.0		*		14.0		11.7		*		11.7
Other	17.5	12.3		2.3		10.0		3.9		1.8		2.1
Total		$	103.6	$	15.5	$	88.1	$	76.7	$	10.5	$	66.2

* Not meaningful, tradenames have an indefinite life.

Schedule of indefinite-lived intangible assets

Information regarding other intangible assets as of December 31, 2014 and December 31, 2013 follows:



	December 31, 2014							December 31, 2013
	Weighted Average Useful Life (Years)	Acquisition Costs		Accumulated Amortization		Net		Acquisition Costs		Accumulated Amortization		Net
		(In millions)
Non-contractual customer relationships	11.9	$	77.3	$	13.2	$	64.1	$	61.1	$	8.7	$	52.4
Indefinite-lived tradenames	*	14.0		*		14.0		11.7		*		11.7
Other	17.5	12.3		2.3		10.0		3.9		1.8		2.1
Total		$	103.6	$	15.5	$	88.1	$	76.7	$	10.5	$	66.2

* Not meaningful, tradenames have an indefinite life.

Schedule of amortization of intangible assets

Information regarding amortization expense of other intangible assets follows:



	Year Ended December 31,
	2014		2013		2012
	(In millions)
Amortization expense	$	4.8	$	3.5	$	2.5

Amortization for the next five years

Amortization expense for the five years subsequent to December 31, 2014 follows:



	(In millions)
2015	$	6.5
2016	$	6.4
2017	$	6.4
2018	$	6.2
2019	$	5.8

Other Long-Term Assets (Tables)

12 Months Ended

Dec. 31, 2014

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other long-term assets

Other assets consist of the following:



	December 31,
	2014		2013
	(In millions)
Pension assets	$	64.6	$	73.3
Deferred financing costs, net	5.1		5.7
Other	3.6		1.4
Total	$	73.3	$	80.4

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2014

Payables and Accruals [Abstract]

Accrued expenses

Accrued expenses and other current liabilities consist of the following:



	December 31,
	2014		2013
	(In millions)
Accrued salaries, wages and benefits	$	25.4	$	22.2
Advance billings	28.4		20.4
Current portion of long-term debt	9.4		4.4
Warranty accrual	6.9		5.4
Interest payable	5.2		5.6
Current portion of other post-retirement liabilities	1.6		1.7
Taxes, income and other	—		2.9
Other	26.7		23.4
Total	$	103.6	$	86.0

Changes in product warranty liability

The following table presents the changes in the Company’s product warranty liability for the years ended December 31, 2014, 2013, and 2012:



	Year Ended December 31,
	2014			2013			2012
	(In millions)
Balance at January 1,	$	5.4		$	6.9		$	4.2
Claims paid during the year	(2.9		)	(6.4		)	(6.0		)
Warranty expense	4.0			4.9			5.4
Acquired warranty liabilities	0.4			—			3.3
Balance at December 31,	$	6.9		$	5.4		$	6.9

Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of Long-term debt

Long-term debt consists of the following:



					Carrying Value at
	Issuance Date	Maturity Date	Interest Rate at December 31, 2014		December 31, 2014		December 31, 2013
					(In millions)
Senior Notes	April 1, 2011	April 1, 2021	8.125	%	$	250.0	$	250.0
Revolving credit	—	July 31, 2019	1.69	%	162.0		111.0
Term loan	—	July 31, 2019	2.25	%	28.8		18.7
Other	Various	Various	Various		3.0		3.9
Total debt					443.8		383.6
Less current maturities					9.4		4.4
Total long-term debt, net of current portion					$	434.4	$	379.2

Fair Value of Debt

The following table represents fair value information of the Notes, classified as Level 1, at December 31, 2014 and December 31, 2013. The fair value was estimated using quoted market prices.



	December 31, 2014		December 31, 2013
	(In millions)
Carrying amount	$	250.0	$	250.0
Fair value	$	266.3	$	275.6

Maturities of Long-term Debt

Maturities of long-term debt during each of the five years subsequent to December 31, 2014 follow:



	(In millions)
2015	$	9.4
2016	$	12.2
2017	$	12.1
2018	$	6.5
2019	$	153.6

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 55

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

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-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Topic 505

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

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-Paragraph 1

-Subparagraph (SX 210.5-02.22)

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Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

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-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income from continuing operations before income tax expense

Income from continuing operations before income tax expense consists of the following:



	Year Ended December 31,
	2014		2013		2012
	(In millions)
United States	$	53.1	$	48.4	$	39.1
Outside the United States	18.7		11.9		15.4
	$	71.8	$	60.3	$	54.5

Income Taxes

Income taxes consisted of the following:



	Year Ended December 31,
	2014			2013			2012
	(In millions)
Current expense:
Federal	$	17.4		$	16.0		$	7.5
State	0.8			1.5			0.8
Foreign	6.2			4.2			4.4
	24.4			21.7			12.7
Deferred expense (benefit):
Federal	1.0			1.2			7.5
State	(0.8		)	(2.6		)	(0.2		)
Foreign	0.3			(0.9		)	0.3
	0.5			(2.3		)	7.6
Income tax expense	$	24.9		$	19.4		$	20.3

Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rates



	Year Ended December 31,
Rate Reconciliation	2014			2013			2012
	(In millions)
Tax at statutory rate	$	25.1		$	21.1		$	19.3
Effect of state income taxes, net	1.4			1.1			0.9
Effect of foreign operations	(0.9		)	(0.2		)	(0.1		)
Valuation allowance	(1.1		)	(1.6		)	(0.2		)
Non-deductible items	1.8			0.7			0.6
Manufacturer's deduction	(1.4		)	(1.4		)	(0.6		)
Other, net	—			(0.3		)	0.4
Total	$	24.9		$	19.4		$	20.3

Significant components of the Company's net deferred tax assets and liabilities

Significant components of the Company’s net deferred tax assets and liabilities are as follows:



	Year Ended December 31,
	2014			2013
	(In millions)
Deferred tax assets:
Postretirement benefit obligation	$	6.2		$	5.9
Inventory	13.7			13.2
Net operating loss and credit carryforwards	6.3			3.8
Goodwill	1.0			0.5
Warranty reserve	2.5			2.1
Compensation	6.0			4.3
Other	11.5			10.7
Total deferred tax assets	47.2			40.5
Deferred tax liabilities:
Depreciation and amortization	13.2			11.7
Pension	23.3			26.4
Goodwill	2.7			2.7
Intangible assets	14.5			15.4
Other	1.4			1.8
Total deferred tax liabilities	55.1			58.0
Net deferred tax liabilities prior to valuation allowances	(7.9		)	(17.5		)
Valuation allowances	(7.1		)	(2.6		)
Net deferred tax liability	$	(15.0	)	$	(20.1	)

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	2014			2013			2012
	(In millions)
Unrecognized Tax Benefit — January 1,	$	5.9		$	6.1		$	6.0
Gross Increases — Tax Positions in Prior Period	0.8			0.4			0.1
Gross Decreases — Tax Positions in Prior Period	(0.2		)	(0.6		)	—
Gross Increases — Tax Positions in Current Period	—			—			0.1
Lapse of Statute of Limitations	—			—			(0.1		)
Unrecognized Tax Benefit — December 31,	$	6.5		$	5.9		$	6.1

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

A summary of stock option activity as of December 31, 2014 and changes during the year then ended is presented below:



	2014
	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
	(in whole shares)					(in millions)
Outstanding — beginning of year	146,000		$	16.71
Granted	—		—
Exercised	(2,500	)	14.12
Canceled or expired	—		—
Outstanding — end of year	143,500		$	16.76	1.7	$	6.6
Options exercisable	143,500		$	16.76	1.7	$	6.6

Summary of Restricted Share Activity

A summary of restricted share and performance share activity for the year ended December 31, 2014 is as follows:



	2014
	Time-Based				Performance-Based
	Number of Shares		Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
	(in whole shares)				(in whole shares)
Outstanding — beginning of year	422,898		$	21.04	42,000		$	20.30
Granted	137,750		57.04		—		—
Vested	(211,048	)	23.71		(14,000	)	20.30
Canceled or expired	(4,668	)	38.19		—		—
Outstanding — end of year	344,932		$	33.55	28,000		$	20.30

Commitments, Contingencies and Litigation Judgment (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Lease Commitments

Future minimum lease commitments during each of the five years following December 31, 2014 and thereafter are as follows:



	(In millions)
2015	$	14.8
2016	$	12.7
2017	$	9.9
2018	$	6.1
2019	$	2.9
Thereafter	$	2.3

Pensions and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Summary of change in defined benefit and postretirement benefit plans



	Pension Benefits						Postretirement Benefits
	2014			2013			2014			2013
	(In millions)
Change in benefit obligation
Benefit obligation at beginning of year	$	52.1		$	56.4		$	16.2		$	18.5
Service cost	2.2			2.6			—			0.1
Interest cost	2.2			2.0			0.6			0.6
Actuarial (gains) losses	8.8			(4.4		)	1.9			(1.3		)
Plan amendment	0.4			—			—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.5		)	(1.7		)	(1.7		)
Benefit obligation at end of year	$	61.1		$	52.1		$	17.0		$	16.2
Change in plan assets
Fair value of plan assets at beginning of year	$	125.4		$	109.4		$	—		$	—
Actual return on plan assets	5.8			21.8			—			—
Company contributions	—			—			1.7			1.7
Cash transfer to fund postretirement benefit payments	(0.9		)	(1.3		)	—			—
Benefits and expenses paid, net of contributions	(4.6		)	(4.5		)	(1.7		)	(1.7		)
Fair value of plan assets at end of year	$	125.7		$	125.4		$	—		$	—
Funded (underfunded) status of the plans	$	64.6		$	73.3		$	(17.0	)	$	(16.2	)

Amounts recognized in the consolidated balance sheets consist of:



	Pension Benefits				Postretirement Benefits
	2014		2013		2014			2013
	(In millions)
Noncurrent assets	$	64.6	$	73.3	$	—		$	—
Noncurrent liabilities	—		—		15.4			14.5
Current liabilities	—		—		1.6			1.7
	$	64.6	$	73.3	$	17.0		$	16.2
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	15.3	$	2.1	$	7.6		$	6.3
Net prior service cost (credit)	0.4		0.1		(0.4		)	(0.5		)
Accumulated other comprehensive loss	$	15.7	$	2.2	$	7.2		$	5.8

Summary of Pension Plan Weighted-Average Asset Allocation

The pension plan weighted-average asset allocation at December 31, 2014 and 2013 and target allocation for 2015 are as follows:



		Plan Assets
	Target 2015	2014		2013
Asset Category
Equity securities	45-75%	64.6	%	67.2	%
Debt securities	10-40	27.9	%	25.4	%
Other	0-20	7.5	%	7.4	%
	100%	100	%	100	%

Schedule of Fair Value Hierarchy of Pension Plans Assets

The following table sets forth, by level within the fair value hierarchy, the pension plans assets:



	2014								2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In millions)
Collective trust and pooled insurance funds:
Common stock	$	45.6	$	2.2	$	—	$	47.8	$	48.3	$	2.5	$	—	$	50.8
Equity Funds	26.9		—		—		26.9		26.9		—		—		26.9
Foreign Stock	5.4		—		—		5.4		5.6		—		—		5.6
U.S. Government obligations	7.0		—		—		7.0		5.1		—		—		5.1
Fixed income funds	19.6		—		—		19.6		18.8		—		—		18.8
Balanced funds	2.1		—		—		2.1		2.1		—		—		2.1
Corporate Bonds	7.5		—		—		7.5		6.8		—		—		6.8
Cash and Cash Equivalents	1.8		—		—		1.8		2.0		—		—		2.0
Hedge funds	—		—		7.6		7.6		—		—		7.3		7.3
	$	115.9	$	2.2	$	7.6	$	125.7	$	115.6	$	2.5	$	7.3	$	125.4

Summary of Reconciliation of Level 3 Assets Held

The following table presents a reconciliation of Level 3 assets, as defined in Note 1, held during the years ended December 31, 2014 and 2013.



	Balance at Beginning of Year		Net Unrealized Gain		Purchases		Balance at End of Year
	(In millions)
Hedge Funds:
2014	$	7.3	$	0.3	$	—	$	7.6
2013	$	6.4	$	0.9	$	—	$	7.3

Summary of Assumptions Used in the valuation of pension and postretirement benefit obligations



	Weighted-Average assumptions as of December 31,
	Pension Benefits						Postretirement Benefits
	2014		2013		2012		2014		2013		2012
Discount rate	3.82	%	4.51	%	3.66	%	3.60	%	4.21	%	3.35	%
Expected return on plan assets	8.25	%	8.25	%	8.25	%	N/A		N/A		N/A
Rate of compensation increase	3.00	%	2.00	%	2.00	%	N/A		N/A		N/A
Medical health care benefits rate increase	N/A		N/A		N/A		7.00	%	6.50	%	7.00	%
Medical drug benefits rate increase	N/A		N/A		N/A		7.00	%	6.50	%	7.25	%
Ultimate health care cost trend rate	N/A		N/A		N/A		5.00	%	5.00	%	5.00	%
Year of ultimate trend rate	N/A		N/A		N/A		2022		2042		2042

Summary of Components of Net Periodic Benefit Cost



	Pension Benefits									Postretirement Benefits
	2014			2013			2012			2014			2013			2012
	(In millions)
Components of net periodic benefit cost
Service costs	$	2.2		$	2.6		$	2.2		$	—		$	0.1		$	—
Interest costs	2.2			2.0			2.2			0.6			0.6			0.8
Expected return on plan assets	(10.1		)	(8.9		)	(8.2		)	—			—			—
Amortization of prior service cost (credit)	0.1			—			—			(0.1		)	(0.1		)	(0.1		)
Recognized net actuarial loss	—			0.8			0.9			0.5			0.7			0.7
Benefit (income) costs	$	(5.6	)	$	(3.5	)	$	(2.9	)	$	1.0		$	1.3		$	1.4
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	$	2.2		$	20.3		$	22.4		$	5.8		$	7.6		$	7.1
Net (gain) loss arising during the year	13.1			(17.3		)	(1.2		)	1.8			(1.2		)	1.1
Recognition of prior service credit	—			—			—			0.1			0.1			0.1
Recognition of actuarial loss	0.4			(0.8		)	(0.9		)	(0.5		)	(0.7		)	(0.7		)
Total recognized in accumulated other comprehensive loss at end of year	$	15.7		$	2.2		$	20.3		$	7.2		$	5.8		$	7.6

Summary Company's Expected Future Benefit Payments

Below is a table summarizing the Company’s expected future benefit payments and the expected payments due to Medicare subsidy over the next ten years:



			Postretirement Benefits
	Pension Benefits		Gross		Expected Medicare Subsidy		Net including Medicare Subsidy
	(In millions)
2015	$	4.3	$	1.7	$	0.1	$	1.6
2016	4.2		1.6		0.1		1.5
2017	4.3		1.6		0.1		1.5
2018	4.3		1.5		0.1		1.4
2019	4.3		1.4		0.1		1.3
2020 to 2024	23.1		6.0		0.5		5.5

Summary of One-Percentage-Point Change in Assumed Healthcare Cost Trend Rate

A one-percentage-point change in the assumed health care cost trend rate would have the following effects:



	1-Percentage Point Increase		1-Percentage Point Decrease
	(In millions)
Effect on total of service and interest cost components in 2014	$	0.1	$	—
Effect on postretirement benefit obligation as of December 31, 2014	$	1.5	$	(1.3	)

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Changes in accumulated comprehensive income (loss)

The components of and changes in accumulated other comprehensive income (loss) for the years ended December 31, 2014, 2013, and 2012 were as follows:



	Cumulative Translation Adjustment			Pension and Postretirement Benefits			Total
	(In millions)
Balance at January 1, 2012	$	4.8		$	(13.2	)	$	(8.4	)
Foreign currency translation adjustments (a)	0.6			—			0.6
Recognition of actuarial gain (b)	—			1.6			1.6
Tax adjustment (c)	—			(0.6		)	(0.6		)
Recognition of actuarial gain, net	—			1.0			1.0
Balance at December 31, 2012	5.4			(12.2		)	(6.8		)
Foreign currency translation adjustments (a)	(2.6		)	—			(2.6		)
Recognition of actuarial gain, net (b)	—			19.9			19.9
Tax adjustment (c)	—			(7.1		)	(7.1		)
Recognition of actuarial gain, net	—			12.8			12.8
Balance at December 31, 2013	2.8			0.6			3.4
Foreign currency translation adjustments (a)	(7.9		)	—			(7.9		)
Recognition of actuarial gain, net (b)	—			(14.9		)	(14.9		)
Tax adjustment (c)	—			5.4			5.4
Recognition of actuarial gain, net	—			(9.5		)	(9.5		)
Balance at December 31, 2014	$	(5.1	)	$	(8.9	)	$	(14.0	)


(a)	No income taxes are provided on foreign currency translation adjustments as foreign earnings are considered permanently invested.


(b)	The recognition of actuarial gains are reclassified out of accumulated other comprehensive income and included in the computation of net periodic benefit cost in selling, general and administrative expenses.


(c)	The tax adjustments are reclassified out of accumulated other comprehensive income and included in income tax expense.

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Data

Selected Quarterly Financial Data (Unaudited)



	Quarter Ended
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,
	(Dollars in millions, except per share data)
2014
Net sales	$	317.8		$	343.3		$	344.6		$	373.0
Gross profit	56.0			61.0			60.6			56.9
Net income from continuing operations	10.3			12.9			12.5			11.2
Net income attributable to noncontrolling interest	(0.2		)	(0.5		)	(0.1		)	(0.5		)
Net income attributable to ParkOhio common shareholders	$	10.1		$	12.4		$	12.4		$	10.7
Earnings (loss) per common share attributable to ParkOhio common shareholders - Basic:
Continuing operations	$	0.84		$	1.02		$	1.02		$	0.89
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Continuing operations	$	0.82		$	1.00		$	1.00		$	0.87
Cash dividends per common share	$	—		$	0.125		$	0.125		$	0.125
2013
Net sales	$	283.0		$	307.3		$	303.5		$	309.4
Gross profit	51.6			57.5			54.6			47.3
Net income from continuing operations	10.7			12.1			8.7			9.4
(Loss) Income from discontinued operations, net of taxes	(0.4		)	(0.1		)	3.7			(0.2		)
Net income attributable to noncontrolling interest	—			—			(0.2		)	(0.3		)
Net income attributable to ParkOhio common shareholders	$	10.3		$	12.0		$	12.2		$	8.9
Earnings (loss) per common share attributable to ParkOhio common shareholders - Basic:
Continuing operations	$	0.90		$	1.02		$	0.71		$	0.76
Discontinued operations	(0.03		)	(0.01		)	0.31			(0.02		)
Total	$	0.87		$	1.01		$	1.02		$	0.74
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Continuing operations	$	0.88		$	0.99		$	0.69		$	0.76
Discontinued operations	(0.03		)	(0.01		)	0.30			(0.02		)
Total	$	0.85		$	0.98		$	0.99		$	0.74


Note A —	On June 10, 2014, the Company completed the acquisition of Apollo, a supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide and is included in our Supply Technologies segment.


Note B —	On October 10, 2014, the Company completed the acquisition of Autoform, a supplier of high end pressure fuel lines used in gasoline direct injection systems across a large number of engine platforms and is included in our Assembly Components segment.


Note C —	On December 4, 2014, the Company completed the acquisition of Saet, a leader in the design, manufacturing and testing of induction heating equipment and heat treat solutions. Saet is included in our Engineered Products segment.


Note D —	In the second quarter of 2013, the Company completed the acquisition of substantially all of the assets of Bates, a manufacturer of extruded, formed and molded products and is included in our Assembly Components segment.


Note E —	Effective August 1, 2013, the Company sold a 25% interest in its Southwest Steel Processing business.


Note F —	On September 3, 2013, the Company sold all of the outstanding equity interests of a non-core business unit in the Supply Technologies segment for $8.5 million in cash. The results of this business unit are reported as discontinued operations and prior periods are adjusted to reflect the discontinued operation.


Note G —	In September 2013, the Company recorded a $5.2 million pre-tax litigation judgment.


Note H —	During the fourth quarter of 2013, the Company acquired the outstanding capital stock of Henry Halstead and QEF. Both companies are providers of supply chain management solutions.

Summary of Significant Accounting Policies (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended		1 Months Ended
	Dec. 31, 2014 Customer	Dec. 31, 2013	Dec. 31, 2014
Line of Credit Facility [Line Items]
Percentage of revenue from long-term contracts	8.00%		8.00%
Sale of accounts receivable	$ 95.0pkoh_SaleOfAccountReceivable	$ 75.4pkoh_SaleOfAccountReceivable
Income (expense) related to discount on sale of accounts receivable	(0.5)	(0.4)
Number of customers with uncollateralized accounts receivable in automotive industry	6
Uncollateralized accounts receivable	37.7pkoh_UncollateralizedAccountsReceivable		37.7pkoh_UncollateralizedAccountsReceivable
Percentage of accounts receivable uncollateralized	18.00%pkoh_PercentageOfAccountsReceivable
Revenue from sales to major customers	252.6pkoh_RevenueFromSalesToMajorCustomers
Percentage of revenue from sales to major customers	18.00%		18.00%
1998 Long-Term Incentive Plan
Line of Credit Facility [Line Items]
Number of shares that may be awarded	3,700,000		3,700,000
Maximum number of shares to be awarded to any individual participant in any one calendar year (no more than)	500,000		500,000
1998 Long-Term Incentive Plan \| Stock Options
Line of Credit Facility [Line Items]
Options maximum expiration period (more than)	10 years
Building \| Minimum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	5 years
Building \| Maximum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	50 years
Machinery and Equipment \| Minimum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	1 year
Machinery and Equipment \| Maximum
Line of Credit Facility [Line Items]
Property, plant and equipment, useful life	20 years
Purchase of Real Estate \| Chief Executive Officer
Line of Credit Facility [Line Items]
Purchase of real estate from related party			$ 1.8

Summary of Significant Accounting Policies (Major Classes of Inventories) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Major Classes of Inventories
Finished goods	$ 146.0	$ 124.1
Work in process	19.8	36.0
Raw materials and supplies	72.6	61.3
Inventories, net	238.4us-gaap_InventoryNet	221.4us-gaap_InventoryNet
Inventory reserves	29.9us-gaap_InventoryValuationReserves	28.4us-gaap_InventoryValuationReserves
Consigned Inventory	$ 7.8	$ 6.6

- Definition

Amount of valuation reserve for inventory.

+ References+ Details

- Definition

Carrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.

+ References+ Details

Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Land and land improvements	$ 7.1us-gaap_Land	$ 6.5us-gaap_Land
Buildings	68.4us-gaap_BuildingsAndImprovementsGross	58.2us-gaap_BuildingsAndImprovementsGross
Machinery and equipment	293.5us-gaap_MachineryAndEquipmentGross	261.5us-gaap_MachineryAndEquipmentGross
Total property, plant and equipment	369.0us-gaap_PropertyPlantAndEquipmentGross	326.2us-gaap_PropertyPlantAndEquipmentGross
Less accumulated depreciation	227.9	210.8
Net property, plant and equipment	$ 141.1us-gaap_PropertyPlantAndEquipmentNet	$ 115.4us-gaap_PropertyPlantAndEquipmentNet

Summary of Significant Accounting Policies (Weighted-Average Number of Shares Used in Computing Earnings Per Share (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Weighted average basic shares outstanding	12,097,018	11,936,772	11,920,593
Plus dilutive impact of employee stock awards	279,058	295,393	195,836
Weighted average diluted shares outstanding	12,376,076	12,232,165	12,116,429

Segments (Details)	12 Months Ended
Segments (Details)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of reportable segments	3us-gaap_NumberOfReportableSegments
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of assets	72.00%	77.00%	81.00%

Segments (Schedule of Segment Information) (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended	3 Months Ended								12 Months Ended
	Sep. 30, 2013	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net sales:
Net sales		$ 373.0us-gaap_SalesRevenueNet	$ 344.6us-gaap_SalesRevenueNet	$ 343.3us-gaap_SalesRevenueNet	$ 317.8us-gaap_SalesRevenueNet	$ 309.4us-gaap_SalesRevenueNet	$ 303.5us-gaap_SalesRevenueNet	$ 307.3us-gaap_SalesRevenueNet	$ 283.0us-gaap_SalesRevenueNet	$ 1,378.7us-gaap_SalesRevenueNet	$ 1,203.2us-gaap_SalesRevenueNet	$ 1,128.2us-gaap_SalesRevenueNet
Segment operating income:
Total segment operating income										97.9us-gaap_OperatingIncomeLoss	85.6us-gaap_OperatingIncomeLoss	80.5us-gaap_OperatingIncomeLoss
Corporate costs										(29.3)us-gaap_OperatingExpenses	(23.1)us-gaap_OperatingExpenses	(18.9)us-gaap_OperatingExpenses
Litigation judgment and settlement costs	(5.2)us-gaap_LitigationSettlementExpense									0us-gaap_LitigationSettlementExpense	(5.2)us-gaap_LitigationSettlementExpense	(13.0)us-gaap_LitigationSettlementExpense
Gain on acquisition of business							0.6			0	0.6	0
Interest expense										(26.1)us-gaap_InterestExpense	(25.9)us-gaap_InterestExpense	(26.0)us-gaap_InterestExpense
Income from continuing operations before income taxes										71.8	60.3	54.5
Identifiable assets		974.2us-gaap_Assets				818.7us-gaap_Assets				974.2us-gaap_Assets	818.7us-gaap_Assets	726.6us-gaap_Assets
Depreciation and amortization expense										23.2us-gaap_DepreciationAndAmortization	19.2us-gaap_DepreciationAndAmortization	18.0us-gaap_DepreciationAndAmortization
Capital expenditures										23.7pkoh_CapitalExpenditures	30.1pkoh_CapitalExpenditures	29.6pkoh_CapitalExpenditures
Supply Technologies
Net sales:
Net sales										559.6	471.9	483.8
Segment operating income:
Total segment operating income										42.5	35.0	37.5
Identifiable assets		277.6				241.7				277.6	241.7	207.0
Depreciation and amortization expense										4.5	3.0	3.9
Capital expenditures										5.8	3.8	1.6
Assembly Components
Net sales:
Net sales										490.5	412.8	304.0
Segment operating income:
Total segment operating income										42.0	31.8	19.9
Identifiable assets		340.5				276.7				340.5	276.7	230.0
Depreciation and amortization expense										14.2	11.6	9.5
Capital expenditures										14.0	21.5	22.1
Engineered Products
Net sales:
Net sales										328.6	318.5	340.4
Segment operating income:
Total segment operating income										42.7	47.1	55.0
Identifiable assets		246.9				183.1				246.9	183.1	199.4
Depreciation and amortization expense										3.3	3.4	3.2
Capital expenditures										2.4	3.6	3.1
General Corporate
Segment operating income:
Identifiable assets		109.2				117.2				109.2	117.2	90.2
Depreciation and amortization expense										1.2	1.2	1.4
Capital expenditures										1.5	1.2	2.8
Operating Segments
Segment operating income:
Total segment operating income										$ 127.2	$ 113.9	$ 112.4

Segments (Percentage of Net Sales by Product Line) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Product Information [Line Items]
Percentage of net sales	100.00%us-gaap_ConcentrationRiskPercentage1	100.00%us-gaap_ConcentrationRiskPercentage1	100.00%us-gaap_ConcentrationRiskPercentage1
Supply Technologies
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Supply Technologies \| Supply Technologies
Product Information [Line Items]
Percentage of net sales	88.00%	87.00%	88.00%
Supply Technologies \| Engineered specialty products
Product Information [Line Items]
Percentage of net sales	12.00%	13.00%	12.00%
Assembly Components
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Assembly Components \| Fluid routing
Product Information [Line Items]
Percentage of net sales	49.00%	54.00%	50.00%
Assembly Components \| Aluminum products
Product Information [Line Items]
Percentage of net sales	43.00%	37.00%	39.00%
Assembly Components \| Rubber and plastics
Product Information [Line Items]
Percentage of net sales	6.00%	7.00%	9.00%
Assembly Components \| Screw products
Product Information [Line Items]
Percentage of net sales	2.00%	2.00%	2.00%
Engineered Products
Product Information [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%
Engineered Products \| Industrial equipment business
Product Information [Line Items]
Percentage of net sales	78.00%	77.00%	80.00%
Engineered Products \| Forged and machined products
Product Information [Line Items]
Percentage of net sales	22.00%	23.00%	20.00%

Segments (Company’s approximate percentage of net sales by geographic region) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	100.00%us-gaap_ConcentrationRiskPercentage1	100.00%us-gaap_ConcentrationRiskPercentage1	100.00%us-gaap_ConcentrationRiskPercentage1
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	74.00%	74.00%	77.00%
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	7.00%	8.00%	8.00%
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	6.00%	5.00%	4.00%
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	6.00%	6.00%	6.00%
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	5.00%	5.00%	4.00%
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of net sales	2.00%	2.00%	1.00%

Acquisitions (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended				1 Months Ended				0 Months Ended
	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2014	Dec. 31, 2014	Oct. 31, 2014	Jun. 30, 2014	Oct. 31, 2013	Apr. 26, 2013	Nov. 30, 2012	Mar. 23, 2012	Dec. 31, 2011	Nov. 30, 2013 Facility
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid		$ 72.7	$ 45.8	$ 97.0
Goodwill		89.5us-gaap_Goodwill	60.4us-gaap_Goodwill	49.7us-gaap_Goodwill		89.5us-gaap_Goodwill							9.5us-gaap_Goodwill
Gain on acquisition of business	0.6	0	0.6	0
Saet S.p.A
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues			35.9
Autoform Tool and Manufacturing
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues			36.8
Apollo Aerospace Group
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues					8.1
QEF Global Limited
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues				14.0
Saet S.p.A
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid						22.1
Goodwill		23.2				23.2
Autoform and Apollo
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Goodwill		5.7				5.7
Autoform Tool and Manufacturing
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid							48.9
Apollo Aerospace Group
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid								6.5
Contingent consideration								2.4
Contingent consideration, period for targets								2 years
Contingent consideration, fair value of earn-out								1.1
QEF Global Limited
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Number of locations/facilities held by acquiree														4
QEF Global Limited and Henry Halstead Ltd.
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid									24.2
Goodwill									7.9
Bates Rubber
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid										20.8
Goodwill										5.0
Elastomeros Tecnicos Moldeados Inc
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid											1.1
Goodwill											0.9
Funding of acquisition, promissory notes payable											0.5
Annual payment due in each of the next four years if certain earnings levels achieved											0.1
FRS
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid												40.0
Goodwill												39.3
Number of locations/facilities held by acquiree												5
Business acquisition, purchase price												98.8
Revenues attributable to acquisition				152.4
Net income attributable to acquisition				7.1
FRS \| Term loan
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Funding of acquisition, liabilities incurred												25.0
Term loan, period												7 years
FRS \| Revolving credit facility
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Funding of acquisition, liabilities incurred												$ 33.8

Acquisitions (Purchase Price Allocation) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 23, 2012
Allocation of purchase price
Goodwill	$ 89.5us-gaap_Goodwill	$ 60.4us-gaap_Goodwill	$ 49.7us-gaap_Goodwill	$ 9.5us-gaap_Goodwill
FRS
Allocation of purchase price
Cash and cash equivalents					2.8
Accounts receivable					30.9
Inventories					12.4
Prepaid expenses and other current assets					2.7
Property, plant and equipment					30.2
Customer relationships					29.4
Trademarks and trade name					11.5
Other assets					0.2
Accounts payable					(17.8)
Accrued expenses					(15.6)
Deferred tax liability					(26.4)
Other long-term liabilities					(0.8)
Goodwill					39.3
Total purchase price					$ 98.8

Acquisitions (Pro Forma Information) (Details) (FRS, USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012
FRS
Business Acquisition [Line Items]
Pro forma revenues	$ 1,179.1
Pro forma net income	$ 39.1

Dispositions (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				12 Months Ended			0 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Aug. 01, 2013	Sep. 03, 2013
Select financial information of discontinued operations:
Income (loss) from discontinued operations, net of taxes	$ (0.2)	$ 3.7	$ (0.1)	$ (0.4)	$ 0	$ 3.0	$ (2.4)
Southwest Steel Processing LLC
Select financial information of discontinued operations:
Sale of noncontrolling interest								25.00%
Proceeds from sale of noncontrolling interest								5.0
Non-core Business Unit \| Supply Technologies \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of non-core business unit									8.5
Select financial information of discontinued operations:
Net sales						5.2	5.8
Loss from discontinued operations before tax						(1.3)	(4.0)
Income tax benefit from operations						0.5	1.6
Net loss from discontinued operations						(0.8)	(2.4)
Gain on sale of business before tax						5.3	0
Income tax expense from gain on sale of business						(1.5)	0
Net gain on sale of business						3.8	0
Income (loss) from discontinued operations, net of taxes						$ 3.0	$ (2.4)

Goodwill (Change in Goodwill) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 60.4us-gaap_Goodwill	$ 49.7us-gaap_Goodwill	$ 9.5us-gaap_Goodwill
Acquisitions	28.9us-gaap_GoodwillAcquiredDuringPeriod	10.4us-gaap_GoodwillAcquiredDuringPeriod	40.2us-gaap_GoodwillAcquiredDuringPeriod
Foreign currency translation	0.2us-gaap_GoodwillTranslationAdjustments	0.3us-gaap_GoodwillTranslationAdjustments
Goodwill, end of period	89.5us-gaap_Goodwill	60.4us-gaap_Goodwill	49.7us-gaap_Goodwill
Supply Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	6.4	0	0
Acquisitions	0.7	6.2	0
Foreign currency translation	0.5	0.2
Goodwill, end of period	7.6	6.4	0
Assembly Components
Goodwill [Roll Forward]
Goodwill, beginning of period	49.0	44.8	4.6
Acquisitions	5.0	4.2	40.2
Foreign currency translation	0	0
Goodwill, end of period	54.0	49.0	44.8
Engineered Products
Goodwill [Roll Forward]
Goodwill, beginning of period	5.0	4.9	4.9
Acquisitions	23.2	0	0
Foreign currency translation	(0.3)	0.1
Goodwill, end of period	$ 27.9	$ 5.0	$ 4.9

Other Intangible Assets (Schedule of Other Intangible Assets) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details of other intangible assets
Acquisition Costs	$ 103.6	$ 76.7
Accumulated Amortization	15.5	10.5
Net	88.1	66.2
Tradenames
Details of other intangible assets
Acquisition Costs, Indefinite-lived Intangible Assets	14.0	11.7
Non-contractual customer relationships
Details of other intangible assets
Weighted Average Useful Life (Years)	11 years 10 months 24 days
Acquisition Costs, Finite-lived Intangible Assets	77.3	61.1
Accumulated Amortization	13.2	8.7
Net, Finite-lived Intangible Assets	64.1	52.4
Other
Details of other intangible assets
Weighted Average Useful Life (Years)	17 years 6 months
Acquisition Costs, Finite-lived Intangible Assets	12.3	3.9
Accumulated Amortization	2.3	1.8
Net, Finite-lived Intangible Assets	$ 10.0	$ 2.1

Other Intangible Assets (Amortization Expense) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4.8us-gaap_AmortizationOfIntangibleAssets	$ 3.5us-gaap_AmortizationOfIntangibleAssets	$ 2.5us-gaap_AmortizationOfIntangibleAssets

Other Intangible Assets (Schedule of Amortization Expense for Subsequent Years) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2015	$ 6.5
2016	6.4
2017	6.4
2018	6.2
2019	$ 5.8

Other Long-Term Assets (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Summary of other assets
Pension assets	$ 64.6pkoh_PensionAssets	$ 73.3pkoh_PensionAssets
Deferred financing costs, net	5.1us-gaap_DeferredFinanceCostsNet	5.7us-gaap_DeferredFinanceCostsNet
Other	3.6	1.4
Total	$ 73.3us-gaap_OtherAssetsNoncurrent	$ 80.4us-gaap_OtherAssetsNoncurrent

Accrued Expenses (Accrued Expenses) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Summary of accrued expenses
Accrued salaries, wages and benefits	$ 25.4us-gaap_AccruedSalariesCurrent	$ 22.2us-gaap_AccruedSalariesCurrent
Advance billings	28.4pkoh_AccruedAdvanceBillings	20.4pkoh_AccruedAdvanceBillings
Current portion of long-term debt	9.4us-gaap_LongTermDebtCurrent	4.4us-gaap_LongTermDebtCurrent
Warranty accrual	6.9	5.4
Interest payable	5.2us-gaap_InterestPayableCurrent	5.6us-gaap_InterestPayableCurrent
Current portion of other post-retirement liabilities	1.6	1.7
Taxes, income and other	0us-gaap_TaxesPayableCurrent	2.9us-gaap_TaxesPayableCurrent
Other	26.7us-gaap_OtherAccruedLiabilitiesCurrent	23.4us-gaap_OtherAccruedLiabilitiesCurrent
Total	$ 103.6us-gaap_AccruedLiabilitiesCurrent	$ 86.0us-gaap_AccruedLiabilitiesCurrent

Accrued Expenses (Schedule of Changes in Company's Product Warranty Liability) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Changes in product warranty liability
Balance at beginning of period	$ 5.4us-gaap_ProductWarrantyAccrual	$ 6.9us-gaap_ProductWarrantyAccrual	$ 4.2us-gaap_ProductWarrantyAccrual
Claims paid during the year	(2.9)us-gaap_ProductWarrantyAccrualPayments	(6.4)us-gaap_ProductWarrantyAccrualPayments	(6.0)us-gaap_ProductWarrantyAccrualPayments
Warranty expense	4.0	4.9	5.4
Acquired warranty liabilities	0.4	0	3.3
Balance at end of period	$ 6.9us-gaap_ProductWarrantyAccrual	$ 5.4us-gaap_ProductWarrantyAccrual	$ 6.9us-gaap_ProductWarrantyAccrual

Financing Arrangements (Details) (USD $)	0 Months Ended
Financing Arrangements (Details) (USD $)	Jul. 31, 2014	Oct. 24, 2014	Dec. 31, 2014	Dec. 31, 2013	Apr. 07, 2011	Oct. 23, 2014
Line of Credit Facility [Line Items]
Foreign subsidiaries borrowings			$ 0	$ 0
Foreign subsidiaries bank guarantee amount			5,200,000	7,200,000
Weighted average interest rate			5.62%us-gaap_DebtWeightedAverageInterestRate	6.10%us-gaap_DebtWeightedAverageInterestRate
Revolving credit facility
Line of Credit Facility [Line Items]
Senior notes, interest rate			1.69%
Term Loan
Line of Credit Facility [Line Items]
Senior notes, interest rate			2.25%
Standby letters of credit
Line of Credit Facility [Line Items]
Amount outstanding			20,500,000
8.125% senior notes due 2021
Line of Credit Facility [Line Items]
Aggregate principal amount of debt					250,000,000.0
Senior notes, interest rate			8.125%		8.125%
Credit Agreement \| Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	230,000,000.0
Term loan, period	7 years
Option to increase availability	50,000,000.0
Inventory advance rate	50.00%
Credit Agreement \| Revolving credit facility, Canadian sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	15,000,000.0
Credit Agreement \| Revolving credit facility, European sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	10,000,000.0
Maximum borrowing capacity, potential	25,000,000.0
Credit Agreement \| Term Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity	16,100,000.0
Credit Agreement \| LIBOR \| Revolving credit facility \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	1.50%
Credit Agreement \| LIBOR \| Revolving credit facility \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	2.50%
Credit Agreement \| LIBOR \| Term Loan \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	2.00%
Credit Agreement \| LIBOR \| Term Loan \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	3.00%
Credit Agreement \| Prime lending rate \| Revolving credit facility \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	(0.25%)
Credit Agreement \| Prime lending rate \| Revolving credit facility \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	(1.25%)
Credit Agreement \| Prime lending rate \| Term Loan \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	(0.75%)
Credit Agreement \| Prime lending rate \| Term Loan \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.25%
Credit Agreement \| Canadian deposit offered rate \| Revolving credit facility, Canadian sub-limit \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	1.50%
Credit Agreement \| Canadian deposit offered rate \| Revolving credit facility, Canadian sub-limit \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	2.50%
Credit Agreement \| Canadian prime lending rate \| Revolving credit facility, Canadian sub-limit \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.00%
Credit Agreement \| Canadian prime lending rate \| Revolving credit facility, Canadian sub-limit \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	1.00%
Credit Agreement \| US base rate \| Revolving credit facility, Canadian sub-limit \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.00%
Credit Agreement \| US base rate \| Revolving credit facility, Canadian sub-limit \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	1.00%
Amended Credit Agreement \| Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		250,000,000.0
Inventory advance rate		60.00%
Inventory advance rate reducing back to		50.00%
Term over which inventory advance rate reduces		36 months
Amount outstanding		22,000,000
Term over which basis spread on variable rate reduces		36 months
Unused borrowing capacity			55,400,000
Amended Credit Agreement \| Revolving credit facility, Canadian sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		25,000,000.0
Amended Credit Agreement \| Revolving credit facility, European sub-limit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		25,000,000.0
Amended Credit Agreement \| Term Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity		35,000,000.0
Amount outstanding		$ 28,800,000				$ 15,500,000
Amended Credit Agreement \| LIBOR \| Revolving credit facility
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		3.50%

Financing Arrangements (Schedule of Long-term Debt) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Apr. 07, 2011
Components of Long-term debt
Long-term debt	$ 443.8us-gaap_LongTermDebt	$ 383.6us-gaap_LongTermDebt
Less current maturities	9.4us-gaap_LongTermDebtCurrent	4.4us-gaap_LongTermDebtCurrent
Total long-term debt, net of current portion	434.4us-gaap_LongTermDebtNoncurrent	379.2us-gaap_LongTermDebtNoncurrent
8.125% senior notes due 2021
Debt Instrument [Line Items]
Senior notes, interest rate	8.125%		8.125%
Components of Long-term debt
Long-term debt	250.0	250.0
Other
Components of Long-term debt
Long-term debt	3.0	3.9
Revolving credit facility
Debt Instrument [Line Items]
Senior notes, interest rate	1.69%
Components of Long-term debt
Long-term debt	162.0	111.0
Term Loan
Debt Instrument [Line Items]
Senior notes, interest rate	2.25%
Components of Long-term debt
Long-term debt	$ 28.8	$ 18.7

Financing Arrangements (Fair Value of Debt) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Carrying amount	$ 443.8us-gaap_LongTermDebt	$ 383.6us-gaap_LongTermDebt
Level 1 \| Reported Value Measurement
Debt Instrument [Line Items]
Carrying amount	250.0	250.0
Level 1 \| Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Fair value	$ 266.3	$ 275.6

- Definition

Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References+ Details

Financing Arrangements (Schedule of Maturities of Long-term Debt) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Debt Disclosure [Abstract]
2015	$ 9.4
2016	12.2
2017	12.1
2018	6.5
2019	$ 153.6

Income Taxes (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating Loss Carryforwards [Line Items]
Deferred Tax Asset Cumulative Loss Position Term	3 years	3 years
Valuation allowances	$ 7.1	$ 2.6
Unrecognized tax benefits, if recognized, would affect the effective tax rate	5.4	4.7
Net interest and penalties	0.3	0.7
Payment of interest and penalties accrued	1.7	1.4
Undistributed earnings	90.2
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards for income tax purposes	16.4
Operating loss carryforward, subject to expiration	1.9
Valuation allowances	6.9	1.2
Foreign Tax Authority \| Minimum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2015
Foreign Tax Authority \| Maximum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2024
Foreign Tax Authority \| Capital Loss Carryforward
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Capital Loss Carryforwards	0.6
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards for income tax purposes	2.9
Valuation allowance against state net operating loss carryforward	$ 1.3
State and Local Jurisdiction \| Minimum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2015
State and Local Jurisdiction \| Maximum
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforward Expiration Year	2033

Income Taxes (Income from Continuing Operations Before Income Taxes) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income from continuing operations before income tax expense
United States	$ 53.1	$ 48.4	$ 39.1
Outside the United States	18.7	11.9	15.4
Income before income taxes	$ 71.8	$ 60.3	$ 54.5

Income Taxes (Income Taxes) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current expense:
Federal	$ 17.4	$ 16.0	$ 7.5
State	0.8	1.5	0.8
Foreign	6.2	4.2	4.4
Total	24.4us-gaap_CurrentIncomeTaxExpenseBenefit	21.7us-gaap_CurrentIncomeTaxExpenseBenefit	12.7us-gaap_CurrentIncomeTaxExpenseBenefit
Deferred expense (benefit):
Federal	1.0	1.2	7.5
State	(0.8)	(2.6)	(0.2)
Foreign	0.3	(0.9)	0.3
Total	0.5us-gaap_DeferredIncomeTaxExpenseBenefit	(2.3)us-gaap_DeferredIncomeTaxExpenseBenefit	7.6us-gaap_DeferredIncomeTaxExpenseBenefit
Income tax expense	$ 24.9us-gaap_IncomeTaxExpenseBenefit	$ 19.4us-gaap_IncomeTaxExpenseBenefit	$ 20.3us-gaap_IncomeTaxExpenseBenefit

Income Taxes (Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rates) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Rate reconciliation
Tax at statutory rate	$ 25.1	$ 21.1	$ 19.3
Effect of state income taxes, net	1.4	1.1	0.9
Effect of foreign operations	(0.9)	(0.2)	(0.1)
Valuation allowance	(1.1)	(1.6)	(0.2)
Non-deductible items	1.8	0.7	0.6
Manufacturer's deduction	(1.4)	(1.4)	(0.6)
Other, net	0	(0.3)	0.4
Income tax expense	$ 24.9us-gaap_IncomeTaxExpenseBenefit	$ 19.4us-gaap_IncomeTaxExpenseBenefit	$ 20.3us-gaap_IncomeTaxExpenseBenefit

Income Taxes (Significant Components of the Company's Net Deferred Tax Assets and Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Postretirement benefit obligation	$ 6.2	$ 5.9
Inventory	13.7us-gaap_DeferredTaxAssetsInventory	13.2us-gaap_DeferredTaxAssetsInventory
Net operating loss and credit carryforwards	6.3	3.8
Goodwill	1.0	0.5
Warranty reserve	2.5	2.1
Compensation	6.0	4.3
Other	11.5us-gaap_DeferredTaxAssetsOther	10.7us-gaap_DeferredTaxAssetsOther
Total deferred tax assets	47.2us-gaap_DeferredTaxAssetsGross	40.5us-gaap_DeferredTaxAssetsGross
Deferred tax liabilities:
Depreciation and amortization	13.2	11.7
Pension	23.3pkoh_DeferredTaxLiabilitiesPension	26.4pkoh_DeferredTaxLiabilitiesPension
Goodwill	2.7	2.7
Intangible assets	14.5	15.4
Other	1.4us-gaap_DeferredTaxLiabilitiesOther	1.8us-gaap_DeferredTaxLiabilitiesOther
Total deferred tax liabilities	55.1us-gaap_DeferredIncomeTaxLiabilities	58.0us-gaap_DeferredIncomeTaxLiabilities
Net deferred tax liabilities prior to valuation allowances	(7.9)	(17.5)
Valuation allowances	(7.1)	(2.6)
Net deferred tax liability	$ (15.0)us-gaap_DeferredTaxAssetsLiabilitiesNet	$ (20.1)us-gaap_DeferredTaxAssetsLiabilitiesNet

Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Beginning and Ending amount of Unrecognized tax benefits
Unrecognized Tax Benefit January 1	$ 5.9us-gaap_UnrecognizedTaxBenefits	$ 6.1us-gaap_UnrecognizedTaxBenefits	$ 6.0us-gaap_UnrecognizedTaxBenefits
Gross Increases - Tax Positions in Prior Period	0.8	0.4	0.1
Gross Decreases - Tax Positions in Prior Period	(0.2)	(0.6)	0
Gross Increases - Tax Positions in Current Period	0	0	0.1
Lapse of Statute of Limitations	0	0	(0.1)
Unrecognized Tax Benefit - December 31	$ 6.5us-gaap_UnrecognizedTaxBenefits	$ 5.9us-gaap_UnrecognizedTaxBenefits	$ 6.1us-gaap_UnrecognizedTaxBenefits

Stock-Based Compensation (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options outstanding (in shares)	143,500	146,000
Intrinsic value of options exercised	$ 0.1	$ 1.1	$ 0.8
Issuance of common stock awards	0	0.4	0.5
Stock options awarded (in shares)	0	0	0
Total fair value of restricted stock units vested	11.5	6.1	4.6
Unrecognized compensation expense	9.8
Total weighted average period	2 years 0 months 6 days
Number of shares available for future grants	120,871
Range One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise prices for options outstanding, lower limit (in dollars per share)	$ 14.12
Exercise prices for options outstanding, upper limit (in dollars per share)	$ 15.61
Number of options outstanding (in shares)	108,500
Range Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise prices for options outstanding, lower limit (in dollars per share)	$ 20.00
Exercise prices for options outstanding, upper limit (in dollars per share)	$ 24.92
Number of options outstanding (in shares)	35,000
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee option to purchase common stock			0.5
Current market value discount rate			20.00%
Compensation expense			0.1
Restricted shares and performance shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 5.8	$ 4.7	$ 2.7

Stock-Based Compensation (Summary of Stock Option Activity) (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Number of Shares
Outstanding - beginning of year, number of shares	146,000
Granted, number of shares	0	0	0
Exercised, number of shares	(2,500)
Canceled or expired, number of shares	0
Outstanding - end of year, number of shares	143,500	146,000
Options exercisable, number of shares	143,500
Weighted Average Exercise Price
Outstanding - beginning of year, Weighted Average Exercise Price (in dollars per share)	$ 16.71
Granted, Weighted Average Exercise Price (in dollars per share)	$ 0.00
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 14.12
Canceled or Expired, Weighted Average Exercise Price (in dollars per share)	$ 0.00
Outstanding - end of year, Weighted Average Exercise Price (in dollars per share)	$ 16.76	$ 16.71
Options Exercisable - end of year, Weighted Average Exercise Price	$ 16.76
Outstanding - end of year, weighted average remaining contractual term	1 year 8 months 12 days
Options Exercisable, Weighted Average remaining contractual term	1 year 8 months 12 days
Outstanding - end of year, Aggregate intrinsic value	$ 6.6
Options Exercisable, Aggregate intrinsic value	$ 6.6

Stock-Based Compensation (Summary of Restricted Share Activity) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Time-Based
Number of Shares
Outstanding - beginning of year, number of shares	422,898
Granted, number of shares	137,750
Vested, number of shares	(211,048)
Canceled or expired, number of shares	(4,668)
Outstanding - end of year, number of shares	344,932
Weighted Average Grant Date Fair Value
Outstanding - beginning of year, weighted average grant date fair value (in dollars per share)	$ 21.04
Granted, weighted average grant date fair value (in dollars per share)	$ 57.04
Vested, weighted average grant date fair value (in dollars per share)	$ 23.71
Canceled or expired, weighted average grant date fair value (in dollars per share)	$ 38.19
Outstanding - end of year, weighted average grant date fair value (in dollars per share)	$ 33.55
Performance-Based
Number of Shares
Outstanding - beginning of year, number of shares	42,000
Granted, number of shares	0
Vested, number of shares	(14,000)
Canceled or expired, number of shares	0
Outstanding - end of year, number of shares	28,000
Weighted Average Grant Date Fair Value
Outstanding - beginning of year, weighted average grant date fair value (in dollars per share)	$ 20.30
Vested, weighted average grant date fair value (in dollars per share)	$ 20.30
Outstanding - end of year, weighted average grant date fair value (in dollars per share)	$ 20.30

Commitments, Contingencies and Litigation Judgment (Details) (TMK IPSCO, USD $) In Millions, unless otherwise specified	1 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2014
Loss Contingencies [Line Items]
Damages awarded	$ 5.2
Additional damages sought	3.8
Direct Damages
Loss Contingencies [Line Items]
Direct damages sought		$ 10

Commitments, Contingencies and Litigation Judgment (Leases) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Leases (Textual) [Abstract]
2015	$ 14.8
2016	12.7
2017	9.9
2018	6.1
2019	2.9
Thereafter	2.3
Rental expense	18.6us-gaap_LeaseAndRentalExpense	17.6us-gaap_LeaseAndRentalExpense	15.8us-gaap_LeaseAndRentalExpense
Affiliated Entity
Leases (Textual) [Abstract]
Rental expense	$ 2.3

Pensions and Postretirement Benefits (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended	12 Months Ended
	Apr. 30, 2011	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pensions and Postretirement Benefits (Additional Textual) [Abstract]
Benefit obligation	$ 1.1
Annual supplemental retirement benefit		0.4
Vested retirement benefit credited service maximum period, prior to January 1, 2008		13 years
Vested retirement benefit credited service maximum period, on or after January 1, 2008		7 years
Vested retirement benefit credited service period		20 years
Percentage of Supplemental Pension received		100.00%
SERP Expense		0.5	0.5	0.5
Contribution retirement benefit credited quarterly		0.1
Contribution retirement benefit credited annually		0.4
Contribution retirement benefit vested period		7 years
Contribution retirement benefit vested, Percentage		100.00%
Pension Benefits
Pensions and Postretirement Benefits (Additional Textual) [Abstract]
Benefit obligation		0.4	0
Expected return on plan assets		8.25%	8.25%	8.25%
Postretirement Benefits
Pensions and Postretirement Benefits (Additional Textual) [Abstract]
Benefit obligation		0	0
Estimated net loss		0.2
Estimated prior service cost		$ 0.6

Pensions and Postretirement Benefits (Summary of Change in Defined Benefit and Postretirement Benefit Plans) (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended	12 Months Ended
	Apr. 30, 2011	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in benefit obligation
Plan amendment	$ 1.1
Change in plan assets
Fair value of plan assets at end of year		125.7	125.4
Funded (underfunded) status of the plans
Current liabilities		1.6	1.7
Pension Benefits
Change in benefit obligation
Benefit obligation at beginning of year		52.1	56.4
Service costs		2.2	2.6	2.2
Interest costs		2.2	2.0	2.2
Actuarial (gains) losses		8.8	(4.4)
Plan amendment		0.4	0
Benefits and expenses paid, net of contributions		(4.6)	(4.5)
Benefit obligation at end of year		61.1	52.1	56.4
Change in plan assets
Fair value of plan assets at beginning of year		125.4	109.4
Actual return on plan assets		5.8	21.8
Company contributions		0	0
Cash transfer to fund postretirement benefit payments		(0.9)	(1.3)
Benefits and expenses paid, net of contributions		(4.6)	(4.5)
Fair value of plan assets at end of year		125.7	125.4	109.4
Funded (underfunded) status of the plans		64.6	73.3
Funded (underfunded) status of the plans
Noncurrent assets		64.6	73.3
Noncurrent liabilities		0	0
Current liabilities		0	0
Total assets (liabilities) recognized in the consolidated balance sheets		64.6	73.3
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss		15.3	2.1
Net prior service cost (credit)		0.4	0.1
Accumulated other comprehensive loss		15.7	2.2
Postretirement Benefits
Change in benefit obligation
Benefit obligation at beginning of year		16.2	18.5
Service costs		0	0.1	0
Interest costs		0.6	0.6	0.8
Actuarial (gains) losses		1.9	(1.3)
Plan amendment		0	0
Benefits and expenses paid, net of contributions		(1.7)	(1.7)
Benefit obligation at end of year		17.0	16.2	18.5
Change in plan assets
Fair value of plan assets at beginning of year		0	0
Actual return on plan assets		0	0
Company contributions		1.7	1.7
Cash transfer to fund postretirement benefit payments		0	0
Benefits and expenses paid, net of contributions		(1.7)	(1.7)
Fair value of plan assets at end of year		0	0	0
Funded (underfunded) status of the plans		(17.0)	(16.2)
Funded (underfunded) status of the plans
Noncurrent assets		0	0
Noncurrent liabilities		15.4	14.5
Current liabilities		1.6	1.7
Total assets (liabilities) recognized in the consolidated balance sheets		(17.0)	(16.2)
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss		7.6	6.3
Net prior service cost (credit)		(0.4)	(0.5)
Accumulated other comprehensive loss		$ 7.2	$ 5.8

Pensions and Postretirement Benefits (Summary of Pension Plan Weighted-Average Asset Allocation) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Weighted-average asset allocations	100.00%	100.00%
Target allocation	100.00%
Equity securities
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Target allocation, minimum	45.00%
Target allocation, maximum	75.00%
Weighted-average asset allocations	64.60%	67.20%
Debt securities
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Target allocation, minimum	10.00%
Target allocation, maximum	40.00%
Weighted-average asset allocations	27.90%	25.40%
Other
Summary of pension plan weighted-average asset allocation/summary of reconciliation of level 3 assets
Target allocation, minimum	0.00%
Target allocation, maximum	20.00%
Weighted-average asset allocations	7.50%	7.40%

Pensions and Postretirement Benefits (Summary of Reconciliation of Level 3 Assets Held) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at end of year	$ 125.7	$ 125.4
Hedge funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at beginning of year	7.3	6.4
Net Unrealized Gain	0.3	0.9
Purchases	0	0
Fair value of plan assets at end of year	$ 7.6	$ 7.3

Pensions and Postretirement Benefits (Summary of Assumptions Used in the valuation of pension and postretirement benefit obligations) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Benefits
Summary of assumptions used by the consulting actuary and the related cost information
Discount rate	3.82%	4.51%	3.66%
Expected return on plan assets	8.25%	8.25%	8.25%
Rate of compensation increase	3.00%	2.00%	2.00%
Postretirement Benefits
Summary of assumptions used by the consulting actuary and the related cost information
Discount rate	3.60%	4.21%	3.35%
Medical health care benefits rate increase	7.00%	6.50%	7.00%
Medical drug benefits rate increase	7.00%	6.50%	7.25%
Ultimate health care cost trend rate	5.00%	5.00%	5.00%
Year of ultimate trend rate	2022	2042	2042

Pensions and Postretirement Benefits (Summary of Components of Net Periodic Benefit Cost) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Benefits
Components of net periodic benefit cost
Service costs	$ 2.2	$ 2.6	$ 2.2
Interest costs	2.2	2.0	2.2
Expected return on plan assets	(10.1)	(8.9)	(8.2)
Amortization of prior service cost (credit)	0.1	0	0
Recognized net actuarial loss	0	0.8	0.9
Benefit (income) costs	(5.6)	(3.5)	(2.9)
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	2.2	20.3	22.4
Net (gain) loss arising during the year	13.1	(17.3)	(1.2)
Recognition of prior service credit	0	0	0
Recognition of actuarial loss	0.4	(0.8)	(0.9)
Total recognized in accumulated other comprehensive loss at end of year	15.7	2.2	20.3
Postretirement Benefits
Components of net periodic benefit cost
Service costs	0	0.1	0
Interest costs	0.6	0.6	0.8
Expected return on plan assets	0	0	0
Amortization of prior service cost (credit)	(0.1)	(0.1)	(0.1)
Recognized net actuarial loss	0.5	0.7	0.7
Benefit (income) costs	1.0	1.3	1.4
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss
AOCI at beginning of year	5.8	7.6	7.1
Net (gain) loss arising during the year	1.8	(1.2)	1.1
Recognition of prior service credit	0.1	0.1	0.1
Recognition of actuarial loss	(0.5)	(0.7)	(0.7)
Total recognized in accumulated other comprehensive loss at end of year	$ 7.2	$ 5.8	$ 7.6

Pensions and Postretirement Benefits (Summary Company's Expected Future Benefit Payments) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Pension Benefits
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2015	$ 4.3
Pension Benefits 2016	4.2
Pension Benefits 2017	4.3
Pension Benefits 2018	4.3
Pension Benefits 2019	4.3
Pension Benefits 2020 to 2024	23.1
Postretirement Benefits
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2015	1.6
Pension Benefits 2016	1.5
Pension Benefits 2017	1.5
Pension Benefits 2018	1.4
Pension Benefits 2019	1.3
Pension Benefits 2020 to 2024	5.5
Postretirement Benefits \| Gross
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2015	1.7
Pension Benefits 2016	1.6
Pension Benefits 2017	1.6
Pension Benefits 2018	1.5
Pension Benefits 2019	1.4
Pension Benefits 2020 to 2024	6.0
Postretirement Benefits \| Pension Benefits
Other postretirement benefit plans defined benefit net including medicare subsidy
Pension Benefits 2015	0.1
Pension Benefits 2016	0.1
Pension Benefits 2017	0.1
Pension Benefits 2018	0.1
Pension Benefits 2019	0.1
Pension Benefits 2020 to 2024	$ 0.5

Pensions and Postretirement Benefits (Summary of One-Percentage-Point Change in Assumed Healthcare Cost Trend Rate) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Summary of One-Percentage-Point Change in the Assumed Healthcare Cost Trend Rate
Effect on total of service and interest cost components in 2012 increase	$ 0.1
Effect on total of service and interest cost components in 2012 decrease	0
Effect on postretirement benefit obligation as of December 31, 2012 increase	1.5
Effect on postretirement benefit obligation as of December 31, 2012 decrease	$ (1.3)

Accumulated Other Comprehensive Income (Loss) (Components of accumulated comprehensive loss) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	$ (14.0)	$ 3.4
Cumulative Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	2.8	5.4	4.8
Foreign currency translation adjustments	(7.9)	(2.6)	0.6
Recognition of actuarial gain	0	0	0
Tax adjustment	0	0	0
Recognition of actuarial gain, net	0	0	0
Balance	(5.1)	2.8	5.4
Pension and Postretirement Benefits
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	0.6	(12.2)	(13.2)
Foreign currency translation adjustments	0	0	0
Recognition of actuarial gain	(14.9)	19.9	1.6
Tax adjustment	5.4	(7.1)	(0.6)
Recognition of actuarial gain, net	(9.5)	12.8	1.0
Balance	(8.9)	0.6	(12.2)
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	3.4	(6.8)	(8.4)
Foreign currency translation adjustments	(7.9)	(2.6)	0.6
Recognition of actuarial gain	(14.9)	19.9	1.6
Tax adjustment	5.4	(7.1)	(0.6)
Recognition of actuarial gain, net	(9.5)	12.8	1.0
Balance	$ (14.0)	$ 3.4	$ (6.8)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References+ Details

- Definition

Amount before tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans.

+ References+ Details

- Definition

Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans.

+ References+ Details

Subsequent Events (Details) (USD $)	0 Months Ended
Subsequent Events (Details) (USD $)	Mar. 06, 2015	Feb. 09, 2015	Oct. 24, 2014	Mar. 12, 2015
Subsequent Event
Subsequent Event [Line Items]
Dividend per common share (in dollars per share)		$ 0.125
Dividend	$ 1,600,000
Amended Credit Agreement \| Revolving credit facility
Subsequent Event [Line Items]
Maximum borrowing capacity			250,000,000.0
March 2015 Credit Agreement Amendment \| Revolving credit facility \| Subsequent Event
Subsequent Event [Line Items]
Maximum borrowing capacity				$ 275,000,000.0

Selected Quarterly Financial Data (Unaudited) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	1 Months Ended	3 Months Ended								12 Months Ended			0 Months Ended
	Sep. 30, 2013	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 03, 2013	Aug. 01, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales		$ 373.0us-gaap_SalesRevenueNet	$ 344.6us-gaap_SalesRevenueNet	$ 343.3us-gaap_SalesRevenueNet	$ 317.8us-gaap_SalesRevenueNet	$ 309.4us-gaap_SalesRevenueNet	$ 303.5us-gaap_SalesRevenueNet	$ 307.3us-gaap_SalesRevenueNet	$ 283.0us-gaap_SalesRevenueNet	$ 1,378.7us-gaap_SalesRevenueNet	$ 1,203.2us-gaap_SalesRevenueNet	$ 1,128.2us-gaap_SalesRevenueNet
Gross profit		56.9us-gaap_GrossProfit	60.6us-gaap_GrossProfit	61.0us-gaap_GrossProfit	56.0us-gaap_GrossProfit	47.3us-gaap_GrossProfit	54.6us-gaap_GrossProfit	57.5us-gaap_GrossProfit	51.6us-gaap_GrossProfit	234.5us-gaap_GrossProfit	211.0us-gaap_GrossProfit	207.3us-gaap_GrossProfit
Net income from continuing operations		11.2	12.5	12.9	10.3	9.4	8.7	12.1	10.7	46.9	40.9	34.2
Income (loss) from discontinued operations, net of taxes						(0.2)	3.7	(0.1)	(0.4)	0	3.0	(2.4)
Net income attributable to noncontrolling interest		(0.5)	(0.1)	(0.5)	(0.2)	(0.3)	(0.2)	0	0	(1.3)	(0.5)	0
Net income attributable to ParkOhio common shareholders		10.7us-gaap_NetIncomeLoss	12.4us-gaap_NetIncomeLoss	12.4us-gaap_NetIncomeLoss	10.1us-gaap_NetIncomeLoss	8.9us-gaap_NetIncomeLoss	12.2us-gaap_NetIncomeLoss	12.0us-gaap_NetIncomeLoss	10.3us-gaap_NetIncomeLoss	45.6us-gaap_NetIncomeLoss	43.4us-gaap_NetIncomeLoss	31.8us-gaap_NetIncomeLoss
Earnings (loss) per common share attributable to ParkOhio common shareholders - Basic:
Continuing operations (in dollars per share)		$ 0.89	$ 1.02	$ 1.02	$ 0.84	$ 0.76	$ 0.71	$ 1.02	$ 0.90	$ 3.77	$ 3.40	$ 2.87
Discontinued operations (in dollars per share)						$ (0.02)	$ 0.31	$ (0.01)	$ (0.03)	$ 0.00	$ 0.25	$ (0.20)
Total (in dollars per share)						$ 0.74us-gaap_EarningsPerShareBasic	$ 1.02us-gaap_EarningsPerShareBasic	$ 1.01us-gaap_EarningsPerShareBasic	$ 0.87us-gaap_EarningsPerShareBasic	$ 3.77us-gaap_EarningsPerShareBasic	$ 3.65us-gaap_EarningsPerShareBasic	$ 2.67us-gaap_EarningsPerShareBasic
Cash dividends per common share (in dollars per share)		$ 0.125000	$ 0.125000	$ 0.125000	$ 0					$ 0.375	$ 0	$ 0
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Continuing operations (in dollars per share)		$ 0.87	$ 1.00	$ 1.00	$ 0.82	$ 0.76	$ 0.69	$ 0.99	$ 0.88	$ 3.68	$ 3.31	$ 2.82
Discontinued operations (in dollars per share)						$ (0.02)	$ 0.30	$ (0.01)	$ (0.03)	$ 0.00	$ 0.25	$ (0.20)
Total (in dollars per share)						$ 0.74us-gaap_EarningsPerShareDiluted	$ 0.99us-gaap_EarningsPerShareDiluted	$ 0.98us-gaap_EarningsPerShareDiluted	$ 0.85us-gaap_EarningsPerShareDiluted	$ 3.68us-gaap_EarningsPerShareDiluted	$ 3.56us-gaap_EarningsPerShareDiluted	$ 2.62us-gaap_EarningsPerShareDiluted
Litigation judgment and settlement costs	5.2us-gaap_LitigationSettlementExpense									0us-gaap_LitigationSettlementExpense	5.2us-gaap_LitigationSettlementExpense	13.0us-gaap_LitigationSettlementExpense
Supply Technologies
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales										559.6	471.9	483.8
Discontinued Operations \| Non-core Business Unit \| Supply Technologies
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of taxes											3.0	(2.4)
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Proceeds from sale of non-core business unit													$ 8.5
Southwest Steel Processing LLC
Earnings (loss) per common share attributable to ParkOhio common shareholders - Diluted:
Sale of noncontrolling interest														25.00%

Valuation and Qualifying Accounts and Reserves (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Trade receivable allowances
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	$ 3.7	$ 3.5	$ 5.5
Charged to Costs and Expenses	0.3	1.8	1.8
Deductions and Other	0.1	(1.6)	(3.8)
Balance at End of Period	4.1	3.7	3.5
Inventory obsolescence reserve
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	28.4	27.2	24.9
Charged to Costs and Expenses	8.4	9.4	11.6
Deductions and Other	(6.9)	(8.2)	(9.3)
Balance at End of Period	29.9	28.4	27.2
Tax valuation allowances
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	2.6	4.2	4.4
Charged to Costs and Expenses	(1.1)	(1.6)	(0.2)
Deductions and Other	5.6	0	0
Balance at End of Period	$ 7.1	$ 2.6	$ 4.2

Pensions and Postretirement Benefits (Summary of Pension Plan Asset Allocation By Level) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	$ 125.7	$ 125.4
Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	47.8	50.8
Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	26.9	26.9
Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	5.4	5.6
U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.0	5.1
Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	19.6	18.8
Balanced funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	2.1	2.1
Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.5	6.8
Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	1.8	2.0
Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.6	7.3	6.4
Level 1
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	115.9	115.6
Level 1 \| Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	45.6	48.3
Level 1 \| Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	26.9	26.9
Level 1 \| Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	5.4	5.6
Level 1 \| U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.0	5.1
Level 1 \| Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	19.6	18.8
Level 1 \| Balanced funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	2.1	2.1
Level 1 \| Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.5	6.8
Level 1 \| Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	1.8	2.0
Level 1 \| Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	2.2	2.5
Level 2 \| Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	2.2	2.5
Level 2 \| Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2 \| Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2 \| U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2 \| Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2 \| Balanced funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2 \| Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2 \| Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 2 \| Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	7.6	7.3
Level 3 \| Common stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| Equity Funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| Foreign Stock
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| U.S. Government obligations
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| Fixed income funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| Balanced funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| Corporate Bonds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| Cash and Cash Equivalents
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	0	0
Level 3 \| Hedge funds
Schedule of pension plans assets by level within the fair value hierarchy
Fair value of pension plan assets	$ 7.6	$ 7.3